AvBuyer Magazine October 2015

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AVBUYER October 2015

™

B U S I N E S S

A V I A T I O N

I N T E L L I G E N C E

THIS MONTH Dealer Broker Market Update – Fall 2015 Hourly Maintenance Plans proudly presents

Boeing 757 Serial Number 29306 See pages 28 & 29 for further details

Aircraft Comparative Analysis – Learjet 45XR www.AVBUYER.com

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Editor’s

Welcome

Entering The Silly Season

U

nlike several countries throughout the world that confine campaigning to a few months prior to the vote for their nation’s leader, the USA starts the process more than a year in advance.

The election to succeed President Obama following his eight years in office—the maximum allowed by US law—will not be held until November 8, 2016, nearly 14 months from now. Yet politicians have been operating at full throttle since mid-summer 2015 to secure their party’s nomination. Contenders vying to be the Democratic party’s flagbearer are relatively few (two, possibly three at this time). At least 15 pols, however, are actively engaged in courting the support of Republicans.

While most citizens in the US take their voting privileges seriously, as well they should, a conservative Op Ed columnist for a leading liberal newspaper once referred to this multimonth posturing as “The Silly Season”—probably because candidates will say almost anything to gain attention, particularly about hotbutton issues such as taxes and income inequality. Unfortunately, their positions are often simplistic and aimed at voter misconceptions.

Hillary Clinton, a leading contender for the Democratic nomination, is discussing changes to capital gains, an aspect of the US tax code that favors investors more than wage earners.

Donald Trump, the billionaire entrepreneur noted for his outspoken candor and presently the leading Republican hopeful, suggests increasing taxes on Wall Street hedge fund traders—clearly the upper end of the economic food chain. It won’t be long before someone mentions “corporate jets”.

Our community must maintain the constant drumbeat of advocacy, which the European Business Aviation Association does through its ongoing communications with EU officials and the National Business Aviation Association promotes with its No Plane No Gain communi-

cations program. The responsibility for spreading the good news about Business Aviation, however, rests with everyone who uses and thus understands the benefits of business aircraft. While we must support our Business Aviation associations, we cannot leave all the messaging to others.

Actively promote Business Aviation. Leave no room for politicians or others to gain traction at the expense of business transportation, a key driver of a nation’s economy.

In This Issue

Speaking of economy, within our BizAv Intelligence section this month we focus on used aircraft market trends as we head into autumn, with Dave Higdon reporting market observations of the dealers and brokers with their ears to the ground daily, and thoughts from Vref’s Fletcher Aldredge.

Within our Flight Department section, the Medium Jet segment is profiled with BlueBook price listings published for several models built over the last 20 years; performance & specifications data supplied by Conklin & de Decker; and Mike Chase reviewing the Learjet 45XR in his latest Comparative Analysis. Fred Haap continues his series on ‘Building a Flight Department from Scratch’, Ken Elliott focusses his Avionics Mandates series on ‘Data to Inform’, and we review the various Aircraft Maintenance Programs available to owners of aircraft out of warranty.

Regular contributors such as Troy Rolf (tax depreciation), Stuart Hope (Insurance - Caveat Emptor), and Jay Mesinger (Top Tips for Buyers and Sellers) lend their expertise to the Boardroom section. Irrespective of your Business Aviation needs, we trust you will find plenty of value within this edition of AvBuyer.

Jack Olcott Editorial Director & Publisher AvBuyer your source for Business Aviation Intelligence

The best aircraft for sale search anywhere, everywhere - on pc, smartphone and tablet.

EDITORIAL Editorial Director / Publisher J.W. (Jack) Olcott 1- 201 572 9284 Jack@avbuyer.com Commissioning & Online Editor Matthew Harris 1- 800 620 8801 +44 (0)208391 6777 Editorial@avbuyer.com Editorial Contributor (USA Office) Dave Higdon Dave@avbuyer.com Consulting Editor Sean O’Farrell 1- 800 620 8801 +44 (0)20 8391 6779 Sean@avbuyer.com ADVERTISING Linda Blackburn (USA Sales) 1- 614 418 7064 Linda@avbuyer.com Maria Brabec (European Sales) +420 604 224 828 Maria@avbuyer.com Karen Price 1- 800 620 8801 +44 (0) 208391 6774 Karen@avbuyer.com STUDIO/PRODUCTION Helen Cavalli / Mark Williams 1- 800 620 8801 +44 (0)208391 6776 Helen@avbuyer.com Mark@avbuyer.com CIRCULATION Barry Carter 1- 800 620 8801 +44 (0)208391 6770 Barry@avbuyer.com AVBUYER.COM Michael Myburgh Michael@avbuyer.com Emma Davey Emma@avbuyer.com MANAGING DIRECTOR John Brennan 1- 800 620 8801 +44 (0)208391 6771 John@avbuyer.com USA OFFICE 1210 West 11th Street, Wichita, KS 67203-3517 EUROPEAN OFFICE Trident Court, One Oakcroft Road, Chessington, Surrey, KT9 1BD, UK +44 (0)20 8391 6770 PRINTED BY Fry Communications, Inc. 800 West Church Road, Mechanicsburg, PA 17055

Mechanicsburg, PA 17055 4

AVBUYER MAGAZINE – October 2015

www.AVBUYER.com

Aircraft Index see Page 145

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info@welschaviation.com Washington, D.C.

New York

Georgia

Texas

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Editorial Focus 44 Dealer Broker Market Update – Fall 2015 While used aircraft transactions slow down

somewhat, the main message from the

industry’s dealers and brokers is ‘Don’t Panic’.

Here’s why…

60 High-Flyers Interview Gary Bosstick began with a love for aviation,

built his first business using that passion, and

then built a second business providing a neces-

sary source of comfort to the BizAv industry.

Read more…

84 Third Party BizAv Maintenance Plans Does financial predictability, higher residual

value and expert maintenance appeal to you? Then you’ll want to read on.

112 Aircraft Comparative Analysis – Bombardier Learjet 45XR How does the Learjet 45XR square up

against Cessna’s Citation XLS? Find out in this month’s Comparative Analysis!

8

AVBUYER MAGAZINE – October 2015

www.AVBUYER.com

Aircraft Index see Page 145

Contents Layout Oct15.qxp 24/09/2015 10:24 Page 2

Contents October2015 Volume 19, Issue 10

T BizAv Intelligence 20

Business Aviation Market Analysis: Rollie Vincent contemplates an Autumnal coolness reflected in the latest market trends

48

Used Aircraft Sales Trends: Fletcher Aldredge wheels out the ‘naughty chair’ and rounds up the usual suspects in the pre-owned market…

52

Domestic (US) versus International Used Market Trends: What will Mike Chase and Marj Rose unpack from the latest JETNET >>KNOW MORE pre-owned statistics?

56

Market Segmentation: Jay Mesinger outlines the advantage of market segmentation in a supply-rich environment

T Boardroom 64

68

72

76

MOVE Documentation: Measure and document BizAv’s operational benefits via the M.O.V.E. protocol outlined here…

Top Tips for Buyers and Sellers of Aircraft: What are the five things Board members should know in a recovery?

Understanding MACRS & ADS (1 of 2): Troy Rolf offers a rundown of Business Aviation Federal tax depreciation basics

T Flight Department 80

Avionics Mandates (Part 10): An introduction to ‘Data to Inform’, including the metrics of KPIs and KPAs…

88

Creating a Flight Department (Part 5): Fred Haap shares some thoughts on the operations manual

92

Does Bigger Assure Better?: Pete Agur offers a tribute to Flight Department excellence, large or small…

96

Are You Ready for PBN? (2 of 3): More procedures are being published worldwide, but how does BizAv benefit?

98

Retail Price Guide: 20-year Medium Jets price guide from The Aircraft Bluebook

102

Specifications: Medium jets performance and specifications comparisons

T Community 135 BizAv Review: Global 7000

Milestones, OEM Bites and Appointments.

Next Month • •

Aircraft Comparative Analysis – Hawker 800XP US Business Aviation Fleet Analysis

BizAv Insurance Caveat Emptor: How do you dissect the insurance deal that seems too good to be true? Stuart Hope investigates…

Advertising Enquiries see Page 4

www.AVBUYER.com

October 2015 – AVBUYER MAGAZINE

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The Citation Specialist since 1967...

2001 CITATION ENCORE, S/N 560-0584

2014 CITATION M2, S/N 525-0822

2007 CESSNA CITATION CJ3, S/N 525B-0162

2008 CESSNA 400, S/N 411076

2000 CITATION EXCEL, S/N 560-5119

PRICE REDUCED

2002 CITATION CJ1, S/N 525-0498

2000 CITATION CJ2, S/N 525-0396

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AIRCRAFT FEATURES • Currently operating Part 135, Professionally Maintained & Operated • Engines on RRCC & APU on MSP • ASC 910 with Enhanced Navigation • TCAS 7.1, ADS-B Out, FANS 1/A, CPDLC Capabilities • Aircell Gogo Biz ATG-4000 High Speed Internet System w/Wi-Fi • Honeywell MCS-7000 Satcom with SwiftBroadband Data • Eighteen Passenger Interior Configuration Mesinger Jet Sales • Brokerage & Acquisitions +1 303 444 6766 • Fax: + 1 303 444 6866 • jetsales.com

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GULFSTREAM G650 Serial Number: 6076

GET THERE IN MAXIMUM SPACE & COMFORT Once-distant cities can now be a part of your work day. The Gulfstream G650 can comfortably and quietly fly at mach 0.90, allowing you to get from San Francisco to Tokyo in just 9 hours and 40 minutes, or from New York to Istanbul in just over 8 hours. With four separate seating sections, and room for up to 17 passengers, there is plenty of room to spread out.

Six passengers can comfortably sleep in berthed seats and divans while leaving the conference group available for use.

AIRCRAFT FEATURES • Full Factory Warranty • Forward Galley, Forward & Aft Lavatories • 4 Seating Sections — 17 Passenger Configuration • XM Weather • Predictive Windshear • Aircraft Health Monitoring • SWIFT Broadband Data with Wireless LAN • Synthetic Vision, HUD II & EVS • Certified Part 135 Aft Crew Rest Area

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2009 Challenger 605

2013 Citation XLS+

Serial Number: 83 Hours: 6,168 TTAF

Asking Price: $1,900,000 Landings: 5,878

Serial Number: 5774 Hours: 1,143 TTAF

Landings: 343

Serial Number: 6138 Hours: 317 TTAF

Landings: 283

•P rofessionally Maintained & Operated Part 135 • Two Owner’s Since New • Engines Enrolled on Honeywell MSP Gold

•A ircell ST 3100 Iridium SATCOM • Collins TWR-850 Turbulence Weather Radar • B elted Lav Seat

•E ngines enrolled on GE OnPoint, APU on MSP Gold • O ne operational owner since new • Always Hangared

• B ombardier and Jet Aviation maintained • Fresh 12/24/36 mo & 400 hour checks at Bombardier, Dallas • TCAS 7.1, ADS-B Out (DO-260A)

• Cessna Maintained, Fresh Inspections • Single Channel SwiftBroadband • IFIS, XM Weather, Jepp Charts, TCAS-4000 Change 7.1

• ProParts, PowerAdvantage+ & AuxAdvantage • D ual FMS-3000 (FMS 4.0), WAAS/LPV & Dual SBAS GPS Receivers

1996 Astra SPX

FOR SALE

FOR SALE

FOR SALE

2000 Falcon 900EX

1994 Falcon 900B

1997 Falcon 50EX

Asking Price: $11,500,000 Serial Number: 74 Hours: 5,684 TTAF Landings: 2,196

Asking Price: $6,900,000 Serial Number: 134 Hours: 5,044 TTAF Landings: 2,409

Serial Number: 260 Asking Price: $4,350,000 Hours: 4,744 TTAF Landings: 1,897

•E ngines on JSSI Premium Plus, APU on JSSI • E xcellent Pedigree • Wing Tank Modification

•E ngines enrolled on Honeywell MSP Gold, APU enrolled on Honeywell MSP • Two Owners, Excellent Pedigree

•E ngines enrolled on Honeywell MSP Gold, APU enrolled on MSP • O ne Owner Since New • Very low total time to cycle ratio

•T CAS 7.1 • G ogo Biz Broadband Internet

• Professionally Maintained and Operated • Low Time/Cycles for Model-Year • WAAS/LPV Capable with (3) FMZ-2010 ver. 6.1

FOR SALE

FOR SALE

FOR SALE

•C omplied with the 3C check and Wing Tank Modification (SB 496R2) in May, 2015

2007 Global 5000

2011 Gulfstream G550

2014 Gulfstream G650

Serial Number: 9158 Asking Price: Make Offer Hours: 1,754 TTAF Landings: 703

Serial Number: 5316 Asking Price: Make Offer Hours: 2,664 TTAF Landings: 818

Asking Price: Make Offer Serial Number: 6076 Hours: 49 TTAF Landings: 22

•B atch 3 Software Upgrade w/ FANS 1/A+ CPDLC and SBAS w/LPV Approach capability • Triple FMS • HUD & EVS

•E ngines enrolled on Rolls-Royce Corporate Care, APU enrolled on Honeywell MSP • A SC 910 w/ Enhanced Navigation

• D elivered September 25, 2014 • Factory Warranty • Block Point 1 (ASC-901 & ASC-18A) complied with

•T riple CD-820 Control Display Units • Autopilot Emergency Descent Mode • H oneywell AIS-2000 Satellite TV

•T CAS 7.1, ADS-B Out, FANS 1/A, CPDLC Capabilities • Gogo Biz Broadband Internet, SwiftBroadband

•P redictive Windshear, SwiftBroadband & More • Fwd Galley, Fwd & Aft Lavs, 4 Seating Sections — 17 Passenger Configuration

FOR SALE

FOR SALE

2001 Gulfstream V

2002 Gulfstream G200

Serial Number: 642 Asking Price: $11,900,000 Hours: 11,185 TTAF Landings: 4,234

Serial Number: 58 Asking Price: $5,950,000 Hours: 3,660 TTAF Landings: 1,891

•E ngines enrolled on Rolls-Royce Corporate Care, APU enrolled on Honeywell MSP •T wo Owners Since New

•E ngines enrolled on Pratt & Whitney ESP Gold • Enrolled on Rockwell Collins CASP • G ogo Biz ATG 5000 Broadband Internet with Wi-Fi

UNDER CONTRACT: ACQUISITION

•F AR Part 91 Professionally Operated and Maintained • H oneywell Avionics Protection Plan (HAPP)

•G ogo Vision UCS-5000 On-demand In-flight Entertainment System • D ual Collins FMS 6100 • 12C (144mo) Inspection complies with 10/28/14

DEAL PENDING: ACQUISITION

UNDER CONTRACT: ACQUISITION

FILE PHOTO

Challenger 300

FILE PHOTO

Citation CJ3

Falcon 2000EX EASy

SOLD: SEPTEMBER 2015

SOLD: AUGUST 2015

FILE PHOTO

ACQUIRED: AUGUST 2015

FILE PHOTO

Hawker 800A

1994 Falcon 50

SOLD: JULY 2015

Gulfstream G650

ACQUIRED: AUGUST 2015

ACQUIRED: JULY 2015

FILE PHOTO

2010 Global XRS

Global 6000

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Falcon 2000LX

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jetsales.com

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BIZAV INTELLIGENCE T MARKET INDICATORS

Business Aviation Market Analysis

Autumnal Coolness Reflected in the Latest BizAv Market Trends

As the leaves start to fall and cooler temperatures set in, the overall performance of the Business Aviation industry – whether aircraft

transactions, new factory deliveries, aircraft departures and hours

flown or overall employment - has thus far proven disappointing for many, notes Rollie Vincent, Editor, Market Indicators…

Rollie Vincent is President of Rolland Vincent Associates. His aviation market analysis is second to none, and he is the creator/director of the JETNET iQ program. With a solid background in market research, economics and statistics, he has more than 30 years of experience in business, regional and international aviation, including positions with Bombardier, Cessna, Learjet, Flexjet, and ICAO. Contact him via rvincent@rollandvincent.com

20

T

his month, we will be closely watching earnings reports emanating from the business aircraft manufacturers to get a gauge on new order activity. Prominent amongst these reports will be reports from Textron and General Dynamics (GD). As the perennial market volume leader, Textron Aviation – encompassing the Cessna, Beechcraft and Hawker brands - has a massive installed base of almost 18,000 fixed-wing business turbine aircraft, split almost equally between business jets and turboprops. Collectively, these represent a remarkable 51% of all fixed-wing turbine business aircraft currently operating worldwide.

At 5.5% CAGR, GD’s Gulfstream Aerospace has generated the fastest fleet growth in the industry over the last 10 years amongst competitors with

AVBUYER MAGAZINE – October 2015

www.AVBUYER.com

1,000 or more aircraft in service. According to the latest JETNET records, there are now 2,500 Gulfstreams in service worldwide, up from about 1,000 aircraft as we entered the new millennium.

About two-thirds of the Textron Aviation and Gulfstream fleet is based in the US, where much of the sales focus will remain through the end of this year and well beyond.

Textron Aviation and Embraer Executive Jets have each embarked upon ambitious sales demonstration tours of their newest aircraft to capture the imagination – and wallets – of customers. These aircraft, along with the recently upgraded Bombardier Challenger 350 and Gulfstream G280, appear to be very well-timed and targeted, entering into service as the US market continues to gain momentum.  Aircraft Index see Page 145

Corporate Concepts 2 October.qxp 21/09/2015 14:52 Page 1

Corporate Concepts International, Inc. Best Global Express Value ■ Available for Sale, Lease, Lease / Purchase ■ Fourteen passenger executive interior with Forward and Aft lavatories ■ Fresh 60 / 180 month and 500 hour inspections ■ Enrolled in engine, APU and airframe programs ■ Batch 3 avionics upgrades including ADS-B allowing for worldwide operations

2008 Legacy 600 – $10,450,000 – Open to All Offers ■ New generation cabin with increased headroom ■ High speed internet with satellite phone ■ Enrolled in Executive Care and Corporate Care programs ■ Forward and Aft lavatories ■ Burns half the fuel of a GIV-SP – FAA Part 135 ■ For Sale or Lease – Motivated Seller

EMB-135LR and EMB-145EP ■ EMB-135LR – 16 seats / EMB-145EP – 50 seats ■ EMB-135 enrolled in all programs for airframe and engines ■ Fresh 144 month inspection and landing gear overhaul by Embraer ■ Available for Sale, Lease or Lease Purchase – Call for details

Large Cabin VVIP Aircraft Available ■ Super B727-200 ■ B-737-200 Advanced ■ DC8-62 ■ Boeing Business Jet ■ Contact us for your Large Cabin VVIP requirements

Additional Aircraft Available: Cessna Grand Caravan, Challenger 300, Citation Sovereign, Lear 45XR, Eurocopter AS355F-2, Eurocopter EC-120B, Agusta AW109, Global 5000 for Lease in Europe 2010 Husky A-1C – Only 158 hours, Upgraded Garmin avionics and more

Dennis Blackburn +1 832 647 7581

Fernando Garcia +52 55 54077686

Chris Zarnik +1 919 264 6212

Larry Wright +1 704 906 3755

Shailon Ian +55 (21) 982 -010605

Financing and Leases Available – See www.flycci.com for further details

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BIZAV INTELLIGENCE T MARKET INDICATORS

With first deliveries to US-based customers in August 2015, a Citation Latitude demonstrator was being flown on a rapid-fire, 39-airport sales demonstration tour across the US in September.

According to ARGUS’ TRAQPak (see Map A), the Latitude demonstrator has been operating extensively, blanketing the US and averaging about 1.5 segments a day through mid-September. It is a vivid illustration of an ‘all-hands-on-deck’ push to put hardware in front of customers and prospects to capture potential business in this calendar year.

Not to be outdone, Honda Aircraft recently completed a successful aroundthe-world tour of the HondaJet. Embraer continued its advance, achieving type certification from Brazil’s ANAC and the US FAA in August 2015, and from EASA in September for the Legacy 450, with initial deliveries to customers planned for Q4 2015. Along with the Legacy 500, Embraer is packing a formidable ‘one-two’ punch in a battle for market share and technology leadership in the middle of the business jet market.

The Citation Latitude and Legacy 500/450 are coming on-stream at an opportune time when the interest in medium-sized business jets – particularly the latest batch with stand-up, walk-around cabins – is accelerating (see Brian Foley’s note to this effect on p26).

In fact, when asked about their opinions on where the Business Aviation industry is in the current business cycle, medium jet operators were the most optimistic subgroup of all respondents to the latest JETNET iQ Global Business Aviation Survey completed in July 2015 (see Chart A).

Although the world newspaper headlines might suggest otherwise, there is considerable optimism amongst Business Aviation owners and operators, especially in the US, where optimists outnumber pessimists by almost 5 to 1 (the highest ratio recorded since we began these measurements in 2012).

US Source for Optimism

Some of the fundamentals underpinning the health of the US market suggest that there is no shortage of power in the industry’s historical growth engine reflected in the relative optimism of the US Bureau of Economic Analysis, which in late August issued its latest readings on the economy, suggesting that real GDP growth from Q1 to Q2 2015 was a relatively healthy 3.7%, driven largely by

Map A: Latitude Demonstrator Tour

Chart A: Current Business Cycle

Opinion by Size Category - Q2 2015 Survey

SOURCE: JETNET iQ Q2 2015 Global Business Aviation Survey of 504 fixed-wing turbine aircraft owners/operators in 58 countries flying 1,611 fixed-wing turbine aircraft

increases in the personal consumption of goods and services.

US real GDP in Q2 2015 was up 2.7% from the same period one year ago, continuing a string of (now) 22 consecutive quarters of YOY growth. Initial readings for Q2 2015 are that US after-tax corporate profits continue to hover around $1.5 trillion on an annualized basis, similar to results posted from since the end of 2011, and about 30% higher than the previous historical peak reached in 2006. Total

assets of US non-financial companies held in liquid or near-liquid form have steadily increased to almost $2 trillion based on the latest government data.

The liquid asset ratio (comparing liquid assets to short-term liabilities) of US nonfinancial companies has remained elevated in the range of 45-50% since the financial crisis of 2008 – suggesting continuing conservatism on the one hand, but an ability to move quickly to seize attractive investment opportunities on continued on page 26

22

AVBUYER MAGAZINE – October 2015

www.AVBUYER.com

Aircraft Index see Page 145



Freestream October.qxp 23/09/2015 16:25 Page 1

2007 Gulfstream G450 • Price: Make Offer • Total Time: 1850 hrs • Landings: 775 • Engines Enrolled on RRCC • HUD/EVS • SecuraPlane External Camera System • Airshow 4000 • Honeywell MCS 7000 SATCOM • 14 Passenger Interior • Aft Galley • Forward Crew Lavatory

2009 Gulfstream G450 • Price: Make Offer • Into Service 2010 • TTAF: 1402 • Landings: 668 • Engines on RRCC • Part 135 Compliance • Aft Galley • Crew Area • Fwd and Aft Lavs • 14 Passenger Configuration

2010 Gulfstream G450 • Price USD $24,900,000 • Total Time: 954 hrs • Landings: 435 • Engines Enrolled on RRCC • Synthetic Vision • Broadband High Speed Data System • Forward Galley • 14 Passenger Interior

2011 Gulfstream G450

• Price: Make Offer • Total Time: 849 hrs • Landings: 455 • Engines on RRCC • SV-PFD (Synthetic Vision – Primary Flight Display) 2.0 • Honeywell HD-710 High Speed Data System • Part 135 Compliance (Up to 10 hours) • Aft Galley • 14 Passenger Interior

FREESTREAM AIRCRAFT LIMITED

London +44 207 584 3800 sales@freestream.com

FREESTREAM AIRCRAFT (BERMUDA) LIMITED

Hamilton, Bermuda +441 505 1062 sales@freestreambermuda.bm

FREESTREAM AIRCRAFT (H.K.) LIMITED

Hong Kong +852 2724 5620 info@freestreamhongkong.com

FREESTREAM AIRCRAFT USA LIMITED

New York +1 201 365 6080 aircarftsales@freestream.com

Freestream October.qxp 23/09/2015 16:25 Page 2

2008 Gulfstream G550 S/N: 5176 • Price reduced

2009 Gulfstream G550 S/N: 5231

• Total Time: 3466.5 hrs • Landings: 953 • Engines on RRCC • APU on MSP • Honeywell APP & Parts Programs • BBML • Securaplane External Camera System • Airshow 4000 • 18 passenger interior • Forward crew rest • Available for viewing Immediately in Bridgeport, Connecticut

• $33,950,000 • 1243 AFTT • 514 Cycles • Engines on RRCC • APU on MSP • Enhanced Nav w/Synthetic Vision • Honeywell Planeview Cert ‘F’ • Head-Up Guidance System • Forward Galley • 18 passenger configuration

1998 Boeing BBJ S/N: 29273 • Price reduced

2007/2009 Boeing BBJ S/N:36714. Reg:VP-BFT

• Total Time Airframe: 3797.17 Hours • Landings: 935 • Delivered with a Fresh A2 & C1 check completed 2014 • HUD (Heads Up Display) • SATCOM • Pats 9 Tank Fuel System • Basic Operating Weight: 95,096 Lbs • SFR88 Mod • CVR/FDR • Airshow Network • 18 Place Interior • One Owner Since New

• $58,950,000 • Into Service 2009 • Total Time Airframe: 2849 Hours • Landings: 741 • Basic Operating Weight: 101,611 Lbs • Pat’s 6 Tanks, 5 aft, 1 fwd • Airshow Network- Aero H+ Satcom – Swiftbroadband- Iridium • 5 external cameras - EFB • 18 Passenger Interior/ Andrew Winch Design

1999 Challenger 604 S/N: 5426 • $6,495,000 • Total Time: 6329:55 hours • Landings: 3397 • Engines enrolled on GE On Point • APU Enrolled on Honeywell APU MSP Gold • Enrolled on Bombardier Smart Parts Plus • Safe Flight Enhanced Auto Throttles • EMS High Speed Data 128 Stand Alone • EGPWS • TCAS II with Change 7 • 12 Passenger Interior

Freestream October.qxp 23/09/2015 16:25 Page 3

2006/2007 Global Express XRS

2001 Learjet 45 S/N: 167 • Make Offer • AFTT: 6589 hours. Landings: 5271 • Engines on MSP Gold • Smart Parts Plus • APU on MSP • Honeywell Primus 1000 • TCAS II with Change 7 • EGPWS • Airshow 400 • Forward and Aft Monitors

• $23,950,000 • Total Time: 3658:07 hrs • Landings: 1177 • Engines on 100% JSSI • Enrolled on JSSI Tip-to-Tail • Triple FMS • FANS 1/A+ and RNP 4 • SBAS with LPV APRH • Batch 3 • ADS-B • Forward and Aft lavs

2001 Falcon 900EX S/N: 87

• New Asking Price $10,950,000 • Engines Enrolled on 100% JSSI • TTAF: 5,345.16 • Landings: 2,922 • Honeywell Avionics Protection Plan (HAPP) • Engines & APU: JSSI • All three Engines: 3000/6000 • Fresh MPI Eng No. 2 • New 3rd Stage high pressure turbine ENG No. 2 • Fresh 2A, Fresh 2A+ • Dual GPS Honeywell HG2021GD02 • Airshow 400/Genesis • Securaplane Back up Batteries

2012 S-76D

• 2012 S76D like new (delivered 2013) • Only 19 hrs TTSN • Utility Interior • 12 passenger seats (3 x 4)

2009 Sikorsky S-76C++ S/N: 760757 • Price reduced • TTAF: 211.54 hours • Lowest Time Pre-Owned S76C++ on the market • Excellent Condition • Single Pilot IFR • EGPWS • CVR & MPFR • Emergency Float System

FREESTREAM AIRCRAFT LIMITED

London +44 207 584 3800 sales@freestream.com

FREESTREAM AIRCRAFT (BERMUDA) LIMITED

Hamilton, Bermuda +441 505 1062 sales@freestreambermuda.bm

FREESTREAM AIRCRAFT (H.K.) LIMITED

Hong Kong +852 2724 5620 info@freestreamhongkong.com

FREESTREAM AIRCRAFT USA LIMITED

New York +1 201 365 6080 aircarftsales@freestream.com

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BIZAV INTELLIGENCE T MARKET INDICATORS

the other. For the aircraft salesperson, US buyers across a spectrum of industries – in durable and non-durable goods manufacturing, and in service such as general retail, automobile and truck sales and service, housing and utilities, transportation, package and freight delivery, finance/insurance, and health and recreation - should be in a relatively good situation and open to “taking a sales call” as the year-end approaches.

Patchy European Picture

In Europe, sales opportunities through the rest of 2015 will be more country- and company-specific with hot and cold spots similar to those experienced by any bather enjoying the pristine waters of the Mediterranean.

Germany and the UK, representing Europe’s two largest business jet fleets, should continue to provide the most nearterm sales opportunities. German unemployment is now at just 4.7% (a 34year low), and the country’s balance of trade (fueled by strong exports) was at a record surplus level in July 2015. UK GDP growth through June 2015 was a

respectable 2.6% on an annualized basis, with unemployment down to 5.5%. Stock market corrections aside, prospects for the UK’s largely service-based economy remain positive, at or above pre-Great Recession levels, based on purchasing manager indices and the level of consumer confidence.

Oil prices remain depressed relative to recent highs, with Brent and West Texas Intermediate crude trading in a range of US$47-50 at press time, down 50% yearover-year. Lower commodity prices are hitting many of Business Aviation’s emerging markets hard; the same is true in more developed economies that are largely dependent on commodities for their prosperity. This has slowed demand from other ‘Top 20’ Business Aviation country-markets such as Canada, Australia, Brazil and South Africa.

The US$, the currency in which most business aircraft transactions are negotiated, was hovering near $1.13 per Euro at the time of publication. The Euro has appreciated slightly relative to the US$ since April 2015, but remains well off its pre-Great Recession peak of $1.60. Just a

Textron Optimism

Textron chairman and CEO Scott Donnelly is optimistic about the outlook for Textron Aviation as the dominant North American business jet market remains ‘fairly strong’.

Revenues at Textron Aviation were down $59m, primarily reflecting a change in the mix of jets delivered in the quarter. Textron delivered 36 new Citation jets and 30 King Air turboprops in Q2, compared to 36 Citations and 34 King Airs in Q2 2014.

Textron Aviation recorded a segment profit of $88m in the second quarter compared to $28m a year ago. The increase is primarily attributed to improved performance, reflecting a $27m lower fair value step-up adjustment and

GD: What Bizjet Slump?

During a Q2 investor call recently, General Dynamics chairman and CEO Phebe Novakovic dismissed ‘speculation’ and ‘rumor intelligence’ by competitors of a slumping business jet market, noting that subsidiary Gulfstream Aerospace “had its best Q2 [for new aircraft sales] since 2008.”

The company’s order book grew by nearly $1bn in Q2, to $14.02bn, with book-to-bill exceeding 1:1. Novakovic said that demand is strong across Gulfstream’s entire product portfolio.

“We also saw the return of many Fortune 500 companies,

year ago, Euros would buy 17% more dollars (read airplanes) than they do today, highlighting the challenges facing buyers and sellers in today’s unsettled Euro Area market. Business aircraft flight operations in Europe remain basically flat on a yearover-year basis, with a bit of a temperature inversion – the more Northerly the latitude, the warmer the activity level, led

by Germany and Scandinavia.

Speaking of Latitudes, if you have not already had the opportunity, we would suggest you visit your friendly neighbourhood airport to experience firsthand some of the features of today’s new breeds of medium jet. Given that the vast majority of business aircraft missions are less than 2,500nm in length, we would not be surprised to see buyers increasingly drawn towards the middle of the market for their next purchases. Assuming that the aircraft sales pipeline and transaction process can move at Mach 0.80 or faster, there may be cause for a little extra celebration as we move towards US Thanksgiving and year-end.

MI www.rollandvincent.com

the benefit of the integrated cost structure of Beechcraft and Cessna. Textron Aviation’s backlog at the end of Q2 2015 was $1.4bn, up $145m from the end of Q1.

Meanwhile, Bell revenues decreased $269m, primarily the result of lower aircraft deliveries and a $41m impact from the settlement of the SDD phase of the ARH program in Q2 2014.

Bell’s backlog at the end of Q2 2015 was $4.8bn, down $477m from the end of Q1.

MI www.txtav.com

which are now placing orders to replenish their fleets.”

Overall, Gulfstream delivered 41 completed jets in Q2, three more than in Q2 2014. Large-cabin shipments soared by seven units, to 33, while midsize deliveries fell by four units, to eight.

Q2 revenues at General Dynamics’ aerospace segment, which also includes Jet Aviation, climbed by $263m to $2.258bn while profits increased by $55m to $226m.

MI www.generaldynamics.com



continued on page 30

26

AVBUYER MAGAZINE – October 2015

www.AVBUYER.com

Aircraft Index see Page 145

Hatt & Associates October.qxp_Layout 1 21/09/2015 17:22 Page 1

2008 Hawker 900XP S/N: HA-21. Reg: N889QS 4,823 Hours since New Airshow 410

AirCell ATG5000 High Speed Internet Enrolled on MSP Partial Interior Refurbishment May-2015 Paint Touch up in 2014

New Company, Same Trusted Resource

2008 Hawker 4000

S/N: RC-7. Reg: N711GD 844 Hours since New Honeywell Primus Avionics Suite Block Point Upgrade cw. October 2011 Dual HF Exterior Refuel Panel

1999 Hawker 800XP S/N: 258416. Reg: N895TM 11,575 Hours since New Engines enrolled on MSP Aircell Wi-Fi Part 135 No Damage History

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1995 Hawker 1000

S/N: 259046. Reg: N546LR 10,977 Hours Since New FAA Part 135 Dual GPS Airshow 400 RVSM Compliant Maintained Under FAA Part 135

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BIZAV INTELLIGENCE T MARKET INDICATORS

BizAv Activity - US & Canada August Business Aviation flight activity posted a decrease from July to finish the month down -2.7%. Dating back to 2012, flight activity has historically increased from July to August notes ARGUS… Results by operational category were all negative for the month, with Part 135 operators posting the largest monthly drop, down -3.7%. The Fractional and Part 91 markets saw decreases of -1.7% and -2.2% respectively.

Looking at the aircraft categories, the small cabin market posted the biggest decrease from July, off -3.8%. The turboprop market posted a decline of -2.8%, followed by mid-size cabin aircraft, down -2.1%, and large cabin aircraft, down -1.2%. The only monthly gain occurred in the Part 91 large cabin segment, up 0.7% from July.

Year-over-Year

Reviewing year-over-year (YOY) flight activity - August 2015 vs. August 2014 - TRAQPak

data indicates that August 2015 posted a slight increase of 0.5%. Note: historically speaking, August has only averaged a 0.3% yearly increase over the last three years.

Results by operational category continue to show growth in the Part 135 market with a YOY increase of 3.4%. The Part 91 and Fractional markets slipped into the red with decreases of -0.3% and -3.8%, in that order.

Flight activity by aircraft category was positive for the top and bottom of the market, while the middle market struggled to gain traction. Large cabin aircraft led the way posting an increase of 2.6% from August 2014. The turboprop market posted its sixth consecutive YOY increase, finishing the period up 1.9%. Small and mid-size cabin aircraft posted declines of -0.7% and -1.2% respectively. The largest YOY gain for an individual segment occurred in the Part 135 turboprop segment, which saw an increase of 7.1%.

MI www.argus.aero

BizAv Activity Europe There were 72,182 Business Aviation flight departures in Europe in August 2015, notes WingX, down -1.5% on August 2014 and -6% on August 2008.

Flight hours fell 3.4% while the YTD 2015 trend is now -1%.

Growth has once again stuttered with Italy proving particularly weak this summer while clearly the collapse in the CIS market has undermined the VIP tourist season. At the aggregate level, charter demand was relatively soft although there were exceptions with super-mid-size and very light jets flying much more this year.

Turboprops have also been in strong demand, with this summer's prop flights exceeding pre-2008 peaks. The top-end of the market is also still strong, with ultralong-range activity increasing as heavy jet activity declines.

Germany was the main growth market, with overall activity up 4% and private flights up more than 15%. Flight activity in France also increased and there was a spike in activity in the Scandinavian region.

As mentioned above, the relapse this month came largely from Italy where flights declined 8%, while YOY flight activity also dropped in Spain and the UK. Peripheral European markets continued to struggle with Turkey down 9% and Russia declining by 20%.

Overall, the core Western European market was just ahead in August - growth that was outweighed by declines in South and East Europe. Specifically, business jet activity continues to disappoint, with a YOY -5% reduction in flights. The other fleet categories - turboprop and piston increased activity in August, especially piston AOC. MI www.wingx-advance.com 

Falcon 900 Series Market Spotlight The Falcon 900 used jets (including the 900C, 900EX, 900EX EASy, 900DX and 900LX) are worth watching closely over the coming months according to James Becker, Senior Aircraft Appraiser at Elliott Aviation.

In his exclusive online blog available to view for free at AvBuyer.com, Mr. Becker looks at the recent trends for the later models in the Falcon 900 series, highlighting average days on the market, recent transactions and availability – courtesy of JETNET – while assessing the possible impact of their recent sales activity.

MI www.avbuyer.com/articles/the-biz- av-bloggers/the-falcon-900-series-under-the-market-spotlight/ continued on page 34

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AVBUYER MAGAZINE – October 2015

www.AVBUYER.com

Aircraft Index see Page 145

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Serial Number: 1074 Asking Price: Make Offer Hours: 11,836

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1988 Gulfstream IV

2012 Gulfstream G550 Serial Number: 5361 Asking Price: $44,950,000 Hours: 1,320

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ASC-190 Gross Weight Increase ATG-5000 HSD GoGo Wifi with Talk and Text Interior Refurb in December 2012, Paint in 2011 5,000 Cycle Gear & Structural Inspection Completed @ 4,482 cycles

• • • •

14 Pax Aft Galley with Crew Rest Area Engines on RRCC GoGo WiFi/Swift Broadband APU on MSP

• • • •

ASC 059B Enhanced Navigation Upgrade ATG-5000 GoGo WiFi with Talk & Text Synthetic Vision System II (SVS2) ASC 079 ADS-B Out

• • • • • •

12/24 month inspection completed July 2015 • -150 APU New paint completed July 2015 $1M PlaneDeck Avionics Enhancement and FANS Upgrades RRCC / MSP / Plane Parts HUD2020 Head Up Display Aircell ATG-4000 Go-Go WiFi Domestic High Speed Internet

• • • •

Fresh Engine Overhauls – August 2014 Very Low Total Time Two US Owners Since New Aft Galley/Forward and Aft Lav

• • • • •

Transferable Falcon & Honeywell Warranties Starting 5/2014 Swift Broadband MSC-7120 SATCOM w/ HD-710 14 Passenger Cabin w/ Forward and Aft Lav EU-OPS1 Subpart K & L Compliant CPDLC FANS 1/A & ATN

• Direct TV • One US Owner since new • Part 135 Capable

• One US Owner since new • Part 135 Capable

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1996 Gulfstream GIV-SP

• • • •

1994 Gulfstream GIV-SP Serial Number: 1242 Asking Price: $5,950,000 Hours: 4,171

TED IVA T MO

2014 Falcon 900LX Serial Number: 276 Asking Price: $35,950,000 Hours: 245

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- James Hagerty 100 Bull Street, Suite 200 - Savannah, Georgia 31401 - +1.912.236.8500 - hagertyjetgroup.com - THE GULFSTREAM® EXPERTS

O'Gara Oct.qxp_Layout 1 23/09/2015 09:46 Page 1

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BIZAV INTELLIGENCE T MARKET INDICATORS

The Big (Cabin) Chill After years of being a major, reliable revenue driver in the Business Aviation industry, sales of large business jets are beginning to show signs of fatigue, warns Brian Foley.

The market for intercontinental aircraft with seating for 15-plus and price tags in the $35-75m range were barely fazed by the 2009 worldwide financial crisis. “Conversely, sales of smaller, more modest jets declined by two-thirds forcing planemakers in that segment to halve staffing and in one case fold. The split personality between big and small is showing objective evidence of change, and is in fact reversing,” notes Foley.

Delving into recent jet delivery figures published by GAMA, and noting that while overall deliveries in 2014 were up 6.5% over 2013 small and medium jets drove that growth and were up 11.9% whereas big cabin jets sank 2.8%, Foley sees the trend is even more pronounced when comparing the first half of 2015 with 2014. “This indicates 3.6% more small/medium jets deliveries but 12.7% fewer big cabin jets.”

There’s other anecdotal evidence pointing to a slowdown in the large segment.

Bombardier slowed production of its Global 5000 and 6000 business jets idling 1,750 employees, and then delayed its (even bigger) Global 7000 and 8000 jets by two years; and Dassault reports just five net Falcon Jet sales in the first half due to weaker global demand and a large fleet order cancellation.

Foley attributes the slowdown in the upper echelons to a combination of factors, including an economic decline in emerging markets that geographically have a need for ultra-long-range jets; a strengthening US Dollar making them cost more overseas; and declining commodity prices. While Foley believes total 2015 business jet unit deliveries will match or exceed 2014 levels, he expects overall delivery values to fall due to a change in mix that has fewer high-value big cabin jets and more of the less-expensive smaller ones.

MI www.brifo.com

BizAv Market to Rise 13.8% by 2020 The latest business aircraft forecast analysis released by Frost & Sullivan predicts the market will amount to a $27.94bn business in 2020, a 13.8% increase over the $24.55bn in billings reported last year.

The number of pre-owned aircraft for sale is a trend indicator for new business aircraft demand, notes the analysis. That number has been declining, and pre-owned aircraft prices remain fairly low creating a gap between new and pre-owned aircraft pricing that restrains new aircraft purchases. Among the key observations of the analysis: - Modifications tend to be reduced in scope, but modification facilities in North America and Europe are booked up through the foreseeable future.

- New deliveries of large airframes are at record levels and are the major market sales area.

- The medium jet market has started to recover, predominantly in the longer

-

-

range portion. Light jet market growth is still small, but there is some hope for market growth.

The aircraft manufacturers are careful with their production rates. Estimates of future production rates are restrained.

The Great Recession has changed the business aircraft business model. In 2007, virtually every type of business aircraft usage was said to be growing.

MI www.frost.com

In-Service Aircraft Technical Condition & Price An Asset Insight Index analysis conducted on August 30, 2015 covering 91 fixed-wing models and 1,813 aircraft listed for sale revealed “Excellent” asset quality, and the highest overall rating on record.

Maintenance Rating (ATC Score): Asset Technical Condition Score (an aircraft’s rating relative to its Optimal Maintenance Condition – achieved the day it came off the production line) decreased by a mere 1.5 AI2 basis points, registering 5.420 versus July’s 5.435, on the ATC Score scale of -5 to 10. The figure virtually equals the average Maintenance Rating for the past twelve months.

Financial Rating: Asset Technical Financial Condition Score (evaluating scheduled maintenance event cost based on the aircraft Maintenance Rating) improved 14.2 AI2 basis points, on the zero to 10 ATFC Score scale, registering a record high 5.245 versus July’s 5.103.

Asset Exposure (ATFE Value): Asset Technical Financial Exposure Value (an aircraft’s accumulated maintenance financial exposure) improved an impressive 21.3% in August, decreasing $383k to $1.415m, the lowest average Exposure figure since October 2014.

All three Jet groups showed asset quality improvement, while Turboprops lost a bit of ground. By aircraft group, asset quality was as follows: •

•

Large Jets: ‘Outstanding’ asset quality, the best Ratings among the four groups and just below the group’s record figure achieved last November. Financial Rating was the best this group has ever achieved; and Asset Exposure improved substantively, registering below the group’s 12-month average.

Small Jets: ‘Excellent’ asset quality, achieving second among the groups by virtue of a 12-month high Maintenance Rating, and record high Financial and overall asset quality Ratings. Asset Exposure decreased $325k to achieve the group’s best 2015 figure.  continued on page 38

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AVBUYER MAGAZINE – October 2015

www.AVBUYER.com

Aircraft Index see Page 145

Yo u r fi rst ch o ice fo r h i g h e n d p r e - own e d

Global Express XRS 2012 S/N 9428 | Hours 432 | Engine program

Global Express 2005 S/N 9151 | Hours 2216 | Engine program

Global Express XRS 2009 S/N 9246 | Hours 2008 | Engine program

LD SO

Global Express XRS 2009 S/N 9283 | Hours 1442 | Engine program

Challenger 850 2009 S/N 8078 | Hours 1127 | Engine program

Challenger 605 2013 S/N 5925 | Hours 1346 | Engine program

Learjet 60XR 2011 S/N 409 | Hours 2360 | Engine program

Fo r i n q u i r i e s co n tac t yo u r d e d i c at e d Sa l e s D i r e c to r U S W e st C oast S t e v e R a h n 7 1 4 - 4 0 1 -2 3 3 7 | U S N o r t h East C h u c k T h o m a s 5 6 1 -2 3 4 - 9 9 6 0 U S N o r t h C e nt r a l Z ac Wac h h o l z 3 1 6 - 6 4 8 -741 6 | U S S o ut h East S cot t M ag i l l 9 0 4 -7 1 6 - 8 9 4 6 U S S o ut h C e nt r a l C a r l Low 2 1 4 - 41 5 -3 1 2 9 | Latin A m e r ica N i c A l i ag a +1 -3 1 6 -2 8 5 - 4 4 57 Eu r o p e , Mi d d l e East an d A sia C h i ko K u n d i +1 - 5 1 4 - 8 2 5 -7 7 8 3 Bombardier, Learjet, Challenger, Global, Global Express XRS and The Evolution of Mobility are trademarks of Bombardier Inc. or its subsidiaries. © 2015 Bombardier Inc. All rights reserved. The aircraft presented here are subject to availability. All images and information are for illustration purposes and are subject to change without notice.

DDBA0307_BBA_PreOwnedAdSeptember2015AVBuyer_V18.indd 1

2015-09-15 2:22 PM

Bombardier Business Aircraft Pre-owned ad 2015 September (V18) AV Buyer - full page - trim size 205 X 270 mm PDF/X-1A:2001 standard with output profile U.S. WEB Coated (SWOP) V2

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BIZAV INTELLIGENCE T MARKET INDICATORS • •

Medium Jets: ‘Excellent’ asset quality, achieving third place in the rankings. Asset Exposure decreased by approximately $444k, recording the best figure in 2015.

Turboprops: ‘Very Good’ overall asset quality (but lower than last month’s record figure due to 12-month low Maintenance Rating). Best Financial Rating since September 2014 and $61k improvement in Asset Exposure (the best figure since October 2014).

Exposure To Price (ETP) Ratio: Spread in the ETP Ratio for the aircraft tracked by Asset Insight narrowed by a record 105.8 percentage points since July, and the average Ratio registered 50.7% - the best figure during 2015. We consider an ETP Ratio (the aircraft’s Maintenance Exposure divided by its Ask Price) above 40% to represent excessive Asset Exposure in relation to Ask Price.

While the industry average has continuously exceeded the 40% level since March 2014, this month’s ETP Ratio reflects a near 25% improvement. Asset quality enhancement was the primary driver, along with some Ask Price strengthening – although overall Ask Prices fell approximately $40k since July.

•

•

•

•

Large Jets: Recorded a near 22% change in ETP Ratio since July, improving from 43.3% to 33.9% -- the lowest/best Ratio among all groups. The aircraft we track also registered a slight Ask Price increase, from $15.99m to $16.15m. Both are potentially good signs – particularly for Sellers.

Medium Jets: With a near 21% reduction (53.4% versus last month’s 67.3%), the group’s ETP Ratio registered its best figure this year. The average Ask Prices for tracked aircraft fell 5.5% to reach a 12-month low ($3.6m). But the group’s 26% improvement in Asset Exposure more than offset the pricing reduction. Prospective Buyers should take note, as quality assets at attractive prices do not linger on listings for long.

Small Jets: This group registered a 33% improvement in ETP Ratio this month, and its best ETP figure of the year (68% versus last month’s record high of 101.7%). Average Ask Price increased nearly 6.9% to $2.02m - a 12-month high. Although Small Jets continue to generate the worst ETP Ratio among the four groups, Buyers have improved asset quality from which to choose – thanks to reduced Asset Exposure, while Sellers can only hope that Ask Price strengthening carries through to the transaction price.

Turboprops: Notching a 43.3% ETP Ratio, second best among all sectors, turboprops improved from last month’s 49.9%, to record the sector’s best figure of 2015. Ask Price improved slightly to $1.59m, edging above the group’s 12-month average. Last month we noted that Turboprop asset quality and pricing represented good value. Sellers may now be trying to take advantage of that fact.

Market Summary Rarely have we witnessed such a uniformly positive shift in overall asset quality as that reflected by this month’s market survey. Not all indicators moved in a positive direction, but Asset Exposure and Ask Price cooperated to improve the ETP Ratio for all aircraft groups.

This bodes well for the short-term, providing good values for Buyers and transaction opportunities for Sellers. It will be interesting to see just how quickly higher quality assets are absorbed, but as we all should know by now, good assets do not linger in the for sale section.

MI www.assetinsightinc.com T 38

AVBUYER MAGAZINE – October 2015

SOURCE: AMSTAT (WWW.AMSTATCORP.COM) ASSET INSIGHT, INC (WWW.ASSETINSIGHTINC.COM)

www.AVBUYER.com

Aircraft Index see Page 145

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BIZAV INTELLIGENCE T USED AIRCRAFT SALES

Dealer Broker Market Update - Fall 2015

Markets Plunge Making Pre-Owned More Attractive Transactions of turbine business aircraft seem to be slowing, but not to worry say a selection of dealers and brokers of used business aircraft. Dave Higdon reports…

O

verall business fundamentals remain solid and responsive to market conditions, in contrast to a series of significant swings in many market indexes – the stock market among them. Business flying seems to be ‘throttling up’ somewhat. From small increases early in the year, flight activity accelerated gradually to post growth in mid-single digits, with forecasters expecting a return to flight levels comparable to before the financial crisis.

Meanwhile, the opposite is happening to transactions of used business aircraft: They're slowing – but only for understandable, visible, logical reasons related to the pre-owned market itself. Hence, advice urging buyers and sellers to avoid panic emerged from conversations with several dealers 44

AVBUYER MAGAZINE – October 2015

and brokers positioned around the market. The market is merely responding to a couple of fundamentals…

“One of my clients called feeling a little spooked the day the stock market took a thousand-point plunge in early trading, before ending the day down far less – and up again two days later,” recalled a Northeast-based broker. “The client asked whether I’d heard about the markets. ‘What does that mean for the prospects of selling our airplane?' they enquired.

“Given that the markets were already stabilizing, and that its daily fluctuations don't greatly influence transactions of viable assets like a good, usable business jet, I assured him the prospects weren’t effected much, adding half-jokingly 'Don't panic!'

www.AVBUYER.com

Aircraft Index see Page 145

Buying & Selling Oct15.qxp_Finance 21/09/2015 14:20 Page 2

fleet for sale was that low.” As a matter of fact, that time would be back in 2007 – and part of the catalyst to that situation was a market red hot with demand fed by new operators coming into Business Aviation on the wings of both new and used business aircraft.

According to the supply/demand theory, a tightening market should mean higher prices. Those prices are indeed up by low double-digit percentages, not only making for happier sellers, but also seeming to influence average times that aircraft are on the market as some buyers move more quickly to hedge against further price escalation.

Dave Higdon is a highly respected aviation journalist who has covered all aspects of civil aviation over the past 35 years. Based in Wichita, he has several thousand flight hours, and has piloted pretty much everything from foot-launched wings to combat jets. Contact him via Dave@avbuyer.com

Biggest Ever Fleet...

Despite the deceleration, the total fleet keeps growing and operator numbers continue to swell.

Growth never really stopped – it only slowed, despite some showy sell-offs of corporate aircraft by some PR-sensitive operating companies after 2008. Few of them abandoned their use of business aircraft. Others restructured their exposure, sold their airplanes and leased or chartered – and generally continued flying business aircraft.

This slowdown looks and feels nothing like the last one, say dealers and brokers. Nor do they expect it to last long, given the growth in aircraft use. For one, much of the decline in the available fleet stems from sales success and the resulting ripple effect – back to shorter selling times and, as happens when supplies tighten, higher initial asking prices.

“Some of those initial ‘blue sky’ asking prices come down after a few months of rejected – or no – offers,” explained a Midwest dealer. He and others expect the market upheavals of late August and early September will influence the market – but, again, not like seven or eight years ago.

“It takes something more than a market hiccup to send business aircraft sales into disarray,” the broker stressed. “Weeks of (stock market) declines, like the meltdown of 2008...now that's a different story.”

While the financial markets' gyrations unsettled some, few observers or participants blamed the roller-coaster action of the market in August for impacting business aircraft transactions – new or pre-owned. The factors influencing used business aircraft sales these days stem not from the state of the economy, but from the state of the business aircraft market itself.

Right now, noted a Southeast broker, the market has been strong enough to start getting a little tight supply-wise, tightening in part because of slower new-aircraft sales.

“It would be different if we still had one-in-six or one-in-seven of the fleet for sale,” the West Coast broker said. “Right now we barely make one-in-eight, and are dipping closer to one-in-10...

I can't remember the last time the percentage of Advertising Enquiries see Page 4

“ He and others expect the market upheavals of late August

Random Ripples of Global Activity

and early

China struggles with both a broad slowdown of its once-hot economy and a resulting currency devaluation – compounded by a falling indigenous stock market. Most investments in China's stock market are domestic, the companies losing value not widely traded elsewhere. But market jitters tend to spread like a virus, infecting people far removed from the cause and sending other markets off their several years of steady bullmarket gains.

Aviation brokers and dealers say they're still working prospects for pre-owned transactions to the world's second-largest economy, so the demand there still remains a factor within the global picture. Meanwhile, the fundamentals of most of the world's top economies remain solid albeit far from spectacular, with everything growing except the one number most able to contribute to more robust growth: namely, increased real income among the vast middle strata of Americans and Europeans – the folks whose www.AVBUYER.com

September will influence the market – but, again, not like seven or eight years ago.” 

October 2015 – AVBUYER MAGAZINE

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BIZAV INTELLIGENCE T USED AIRCRAFT SALES

purchasing activities drive most of their respective economies. In parallel, the basic needs for business travel remain to underpin a continuation of a viable market for pre-owned business aircraft, but inventories are thinner - even the large-cabin jet segment is finally cooling off among both new and pre-owned aircraft buyers.

Expectations Point Up

Forecasts from research and support organizations alike point toward continuing gains in flight activity. What should follow depends on where you're standing: If you are a seller, a market shift in your direction as selections continue to decline while sale prices climb; if you are a buyer, increasing pressure to act quickly to avoid further price escalation – and fewer options from which to choose.

At some point new airplane sales will start to grow again and more supply will flow into the preowned fleet ‘For Sale’. A Midwest dealer opined that the current slowdown in pre-owned and new aircraft sales reflect different issues. For new aircraft sales, it's partly an issue with companies continuing to accumulate and hold cash.

“If the new airplane brings nothing more than its newness, many companies are making do, holding their existing lift and performing the necessary upgrades to keep it viable,” he remarked.

“Remember, a cabin refurbishment can deliver that same smell as a new airplane – for a lot less.”

And on the pre-owned side? “We're seeing, in part, a ripple from the slowdown in new airplane sales,” explained our Northeast broker. Fewer new aircraft deliveries ‘ripple’ through the market, reducing the number of pre-owned aircraft coming into the ‘For Sale’ fleet, contributing to a further

46

AVBUYER MAGAZINE – October 2015

tightening of supplies. That, in turn, underpins the trend toward higher asking prices. Together these factors combine enough to make the deceleration noticeable, but not far enough to stall the market.

If there's a bright spot, summarizes the collective view, it's in smaller business-turbine aircraft the segment that suffered the most in the latter part of the last decade. And the segment that continued to boom, relatively, is finally seeing a slowdown in new aircraft sales that's further tightening an already tight market among the largecabin and businessliner options. As the Northeast broker put it, “The bottom line is that everything is still selling, but there's less to sell – and that's impacting prices and forcing some sellers to rethink their position.”

The World's Still Spinning!

Increased utilization; declines in new aircraft sales; decreasing pre-owned sales (all amid a declining ‘For Sale’ fleet) combine with a lot of unsettled issues that remain in the world. The Northeast broker concluded that some things are always unsettled in some parts of the world, and still elsewhere in the world’s business, commerce and life continue to progress.

“We weathered the Iraq War years, the Great Recession, floods, fires, natural and man-made disasters...and now we're not even going backward because of this slowdown in airplane sales,” he concluded. “We're just not growing as fast as we have. We may be at the point where we finally grow beyond where we were before the financial crisis and the recession. The key now is to keep calm, carry on, and by no means panic!” T

www.AVBUYER.com

“And on the pre-owned side? ‘We're seeing, in part, a ripple from the slowdown in new airplane sales,’ explained our Northeast broker.”

Aircraft Index see Page 145

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BIZAV INTELLIGENCE T USED AIRCRAFT SALES

Used Aircraft Sales Trends

The Naughty Chair and a Round-Up of the Usual Suspects It’s a great time to be a buyer or a broker, notes Vref’s Fletcher Aldredge.

But is it a great time to be a seller? Not so much… ctivity in most segments was downright brisk, especially when considering we just passed through the doggiest days of summer. Prices, not to be confused with Activity, however continue to be stagnant.

A

Piston Singles & Twins

Fletcher Aldredge is publisher of the industryrespected Vref Aircraft Value Reference Guide.

Vref is the industry’s modern price guide, designed especially for professionals operating in today’s challenging marketplace. Contact Fletcher via info@vrefpub.com

48

We are long overdue in thanking AOPA for its tireless efforts to reform medical standards. Thank you, Mark Baker and your hard-working staff!

There is no credible evidence that a third-class medical does anything beyond creating a roadblock for aircraft owners and pilots.

Nearly all of the arguments we’ve heard against reform are from large aircraft drivers bent on “keeping those bugsmashers out of my way”. Ok, Roger Ramjet, you learned to fly in a so-called ‘bugsmasher’, and so will your sons and daughters. Some of my happiest moments have been at the controls of a jet, climbing out with a light fuel load. Yet it’s clear to me, medical reform could be the single easiest, most achievable way to revitalize General Aviation. For all the details and links to contact your elected officials on this matter, visit AOPA.org.

Even in the current environment (i.e., outdated medical requirements and sluggish economies)

AVBUYER MAGAZINE – October 2015

www.AVBUYER.com

piston aircraft are faring much better than their turbine counterparts. In the recent quarter, falling fuel prices were credited with increased activity - especially in Beech Barons, Cessna 310s and Piper Senecas. At this time, there is little or no upward pressure on prices.

Yes, this remains a good time to buy. And what can your money buy? Table A (opposite) shows that you can buy lots!

Turbine Segment

Broker comments during the recent quarter range from, “This was the best, most active Summer I’ve ever had,” to “Broker X is killing the market by selling his Lear, Gulfstream, etc., below market.”

Most dealers and brokers we have spoken with say activity has been better than good. However, a few still want to round up the usual suspects in order to explain current market conditions.

As we said way back in 2008, banks, books and brokers don’t make or break markets. Smart, knowledgeable brokers can vastly facilitate a deal.

However, markets in a free society are made by buyers and sellers. And, at the moment, it remains a buyers’ market.

What can your money buy in the turbine segment? A lot more than it did a year ago, says Table B (opposite)…

Aircraft Index see Page 145

Buying & Selling 3 Oct15.qxp_Finance 22/09/2015 13:26 Page 2

The Naughty Chair

We had intended to include a two-column list of what is causing downward pressure on the market and what is a stabilizing, positive influence. The downward pressure side was lopsided and lengthy, including too many airplanes and they don’t wear out. The Global Economy can’t seem to stay in recovery mode for more than one CNN news cycle. That’s left us with a Global supply without the Global demand.

The positive/stabilizing side of the list only included one item, but it easily trumped (sorry) all the others: Private transportation whether via Beech Bonanza or Gulfstream G550 is indescribably convenient, safe and efficient.

To prove a point, here’s a short but true story: I recently flew (USAir) to Denver on vacation. I dreaded the return flight so much I forfeited my ticket, rented a car and drove back...and I hate driving.

Flying most scheduled airlines is a lot like sitting on the naughty chair, only my mom didn’t make me sit there for hours with my knees tucked under my chin.

The staff at Vref has the distinct advantage of observing this industry from virtually every level. And, we like what we see. Dealers and brokers - the successful ones - realize we may never go back to the days when you could put Advertising Enquiries see Page 4

a Cessna 210 into inventory and be guaranteed easy appreciation. Motor yachts and backhoes usually don’t go up in value; why would we expect airplanes to appreciate?

On the manufacturing side, the OEMs are continually pushing the envelope: more range, more speed and eventually, near total automation. There are many exciting things on the horizon. A little old company called Airbus is planning the EFan, an electric airplane to be released in 2017. Also, just for fun, type teslaaircraft.com into your browser...

Whether we’re talking near-term or in the distance, we see a bright future for General Aviation…for those willing to adapt and keep up with the changes. T

www.AVBUYER.com

October 2015 – AVBUYER MAGAZINE

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BIZAV INTELLIGENCE T JETNET >>KNOW MORE

Domestic US vs International Used Aircraft Market Trends Mike Chase and Marj Rose share the latest JETNET >>KNOW MORE statistics for the pre-owned business jet and turboprop markets.

TABLE A - Worldwide Fleet of Business Aircraft, By Continent (Based At)

Mike Chase (president, Chase & Associates) and Marj Rose (president, MarketLift), offer highly sought-after aviation market research expertise. Contact them via mike@avbuyer.com or MRose@market-lift.com.

JETNET, meanwhile, the ultimate source for information & intelligence on business and commercial aircraft worldwide, can be contacted via www.jetnet.com.

52

arket trends are always easier to analyze historically than they are to predict for the future. While our industry recovery from the 2008 low seems too slow for most of us, it is interesting how market changes just don’t seem as dramatic when comparing them over decades. This month, we’ll look back at some key industry market trends and compare the Domestic US activity to the rest of the world.

To start we will break down the current numbers of the world fleet of business aircraft by Continent (Table A, above). We can see that North America is home to 12,762 (69%) of the world’s wholly-owned business jets, and 8,613 (62%) of the business turboprop fleet.

M

AVBUYER MAGAZINE – October 2015

www.AVBUYER.com

Business Jets ‘For Sale’ (1990-2014)

Chart A (overleaf) displays the split of total business jets for sale between the Domestic US and International markets. The percentage of international business jets for sale is at its highest point (40%) since 1990. This percentage has been increasing since 2008 while the Domestic USA side has been declining.

Business Turboprops ‘For Sale’ (1990-2014)

Following the business jet trend, the percentage of international business turboprops for sale is at the highest percentage (43%) since 1990, as shown in Chart B (overleaf). This percentage has also been increasing since 2008 while the Domestic USA shows a declining trend.  Aircraft Index see Page 145

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BIZAV INTELLIGENCE T JETNET >>KNOW MORE

CHART A - Business Jets For Sale Percentage Domestic US/International - 1990 to 2014

CHART B - Business Turboprops For Sale Percentage Domestic US/International - 1990 to 2014

CHART C - Business Jets Full Transactions* Percentage Domestic US/International - 2000 to 2014

CHART D - Business Turboprops Full Transactions* Percentage Domestic US/International - 2000 to 2014

Business Jets Full Retail Transactions (2000-2014)

The percentage of Domestic USA pre-owned business jets sold, reached the highest percentage (79%) in 2003 (Chart C, left). However, the percentage dropped in 2008 to 65% and then it dropped again to the lowest percentage in 2011 at 58%. The percentage has remained steady at 62% for the past three years.

Recently, pre-owned business jet transactions have been down by 4% comparing the first eight months of 2015 with 2014. However, the split between the Domestic US vs International is 63%/37% which is a slightly increased share for the Domestic US market compared to International.

Business Turboprops Full Retail Transactions (2000-2014)

The percentage of Domestic US pre-owned business turboprops sold reached a high percentage (75%) in 2002 (Chart D, left). However, the percentage dropped in 2008 to 61% and has since remained at that level indicating this is the new norm for the turboprop segment.

Recently, pre-owned business turboprops have been down 8.1% comparing the first eight months of 2015 to 2014. However, the percentage split between Domestic US vs International has shifted to 63/37 in 2015 (compared to 61/39 in 2014), indicating an increased share for the Domestic US compared to International.

Used Business Jet Transactions – Top 10 Countries

In 2000 the US accounted for 72% of all pre-owned business jet retail transactions and there were 47 countries that accounted for the total 1,671 sales (Table B, right). In the year 2014 the US percentage sold dropped to 62% of all pre-owned sales and there were 88 countries that accounted for 2,554 sales.

It is interesting to note that the transactions are taking place in almost twice as many countries in 2014 than in 2000. Brazil (highlighted) is the only emerging country of the BRIC group to make the Top 10 list in each year.

Brazil was in second place, and a long distance behind the US in pre-owned retail sale transactions in 2014. Also, for the years displayed, the Top 10 Countries have made-up from 77% to 89% of all full retail sale transactions.

Used Business Turboprop Transactions Top 10 Countries

In 2000 the US accounted for 65% of all pre-owned business turboprop retail transactions, while, in all, there were 51 countries that accounted for the 1,289 sales (see Table C, opposite). In the year 2014 the US percentage sold dropped to 61% of all pre-owned sales, and there were an increased 65 countries that accounted for 1,252 sales.

Brazil (highlighted) is the only emerging country of 54

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Aircraft Index see Page 145

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the BRIC to regularly TABLE B make the Top 10 list.

However, Brazil is currently third, behind Canada and some distance from the US in pre-owned retail sale transactions in 2014. India, another BRIC country, made the Top 10 in 2014 and may continue this trend for the near future.

Summary

As we look back at all these data, the Business Aviation market continues its approximate 60/40 split between activity in Domestic US and the rest of the world. Should we expect more change?

The following are the most common Business Aviation Market Trends that have resulted in our current Global supply of aircraft without as much Global demand as most of us would like to see…

TABLE C

• The US dominates all countries in regard to business jet and business turboprop fleet activity (in-operation, for sale, and full retail sale transactions); • There has not been any bifurcation of the preowned business jets and business turboprop fleets. However, there is bifurcation of NEW business jet deliveries with more Large sized (compared to the Medium/Light-sized) jets; • Economic decline in the emerging markets such as the BRIC Countries; • Dollar Value change in new business jet deliveries i.e.: Fewer high dollar value large jets More, less-expensive smaller jets • Mix change in transactions, including: Slowdown of large jet transactions Increase in small/medium jet transactions • Declining oil prices (prices are half of what they Advertising Enquiries see Page 4

were one year ago) primarily due to the OPEC Middle East policy changes; • Stronger US dollar making business jets cost more in international markets.

We will continue monitoring the industry’s progress and anticipate many more reports and predictions as we edge closer to the annual National Business Aviation Association’s Business Aviation Conference and Exhibition in Las Vegas, Nevada, November 17-19, 2015. Keep your eyes peeled! T

Are you looking for more market insight? Visit www.avbuyer.com/articles/category/businessaviation-market-insight www.AVBUYER.com

October 2015 – AVBUYER MAGAZINE

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BIZAV INTELLIGENCE T AVIATION LEADERSHIP ROUNDTABLE

Market Segmentation

An Advantage in a Supply-Rich Environment Segmentation of the market can be accomplished by aircraft age, configuration, total time and location in the world among other things, notes Jay Mesinger.

Nevertheless, one person’s pebble is another person’s diamond…

M

arket segmentation can be helpful – with each of the segments allowing us to slice and dice the market for the gems. Whether you’re looking for a low-time, standard interior configuration with US pedigree and registration, or a high-time aircraft with any configuration and no preference to registration, today more than ever before segmentation quickly determines price points that can vary greatly between aircraft of the same make and model.

It was the lenders who really began this discussion. Their appetites for lending are largely for aircraft that are no older than 10-15 years. In some cases this age requirement spans the whole of the lending period, not just the beginning of it.

Next, as the emerging markets grew between 2003 and 2008, a greater percentage of new aircraft were delivered to those distant markets than ever before. Many of the emerging markets were not only still building to a critical mass of aircraft, but were also still building towards having necessary MRO and day-to-day service and parts availability at hand.

Never before have the effects of a global market and the different standards, maturity and experience in aircraft ownership played a part as they did now.

During that 2003-2008 period, buyers in the emerging global markets were willing to pay premiums of up to 20% to satisfy their demand for new or like-new aircraft, and lenders were willing to finance the new retail price of the aircraft that included the premiums. This helped set-up the awful fall in values that we experienced at the beginning of the downturn.

In my opinion there are two reasons why emerging markets only wanted new or like-new aircraft: First, since the money available to these emerging markets was considered new, everything the buyers wanted was new as well; and second, the lack of operational maturity in these emerging markets along with safety and reliability (of older stock) being questioned.

Several years have passed, and both reasons above are being replaced by the realization of the value in paying less than required to buy new and the reliability and safety of these aircraft as they age and are maintained to high standards.

Today there is as much supply in every market as the industry has ever seen. This inventory could even be considered an over-supply in many cases. Prices are still unstable in most markets, and buying is mostly taking place in North America.

The idea that these airplanes were only created equal when 56

AVBUYER MAGAZINE – October 2015

they were manufactured but change dramatically over time as they’re operated in different parts of the world, and are maintained differently, to different standards drives segmentation in most areas.

Dissecting a Market!

Let’s imagine we’re shopping for a Gulfstream G550 and just look at the market from 30,000 feet: Supply would be our primary awareness. Just seeing that there are 31 airplanes for sale might lead us to consider this market ‘ripe for the picking’. We can name our price, right? Let’s take a closer look: • • • • •

Of the 31 aircraft, only 18 are registered in the US; Of those 18 aircraft, 13 are on RRCC or its equivalent; Of those 13, five offer an Aft Galley (which arguably would eliminate the aircraft from 80% of buyers’ search, leaving a pool of eight viable aircraft; Looking at aircraft total time (500 hours annually is considered average utilization), all eight are at the average utilization, so all remain prospects; finally A close look at the eight aircraft, based on remaining configuration priorities as well as cosmetics, damage and type of operation would likely cut the list to just two or three viable options.

Thus, there is nowhere near as much choice or oversupply as you may have first thought from a cursory glance at the market.

Increasingly, these intelligent reviews of aircraft for sale in a particular fleet are bringing buyers to the realization that the ‘30,000 feet review’ is no place to view the markets from. The devil is in the detail.

Look hard, set good expectations, then go through logs and records with a fine-tooth comb. Have tight contracts with Delivery Conditions that leave you with the aircraft you expect when the deal is done.

Segmentation can be the buyer’s friend. Yes, it may mean you pay a little more for your perfect airplane, but you can be sure this additional investment will last an ownership lifetime. T

www.AVBUYER.com

Jay Mesinger is the CEO and Founder of Mesinger Jet Sales. With 40 years’ experience in the aircraft resale market, Jay also serves on the Jet Aviation Customer and Airbus Corporate Jets Business Aviation Advisory Boards (BAAB).

Contact him at jay@jetsales.com Aircraft Index see Page 145

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803.822.4114 member of

South Carolina (CAE) Colorado (GJT) • Texas

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BOARDROOM T CASE STUDY

High-Flyers:

He Made His Bed in BizAv, and Now He Can Lie In It - Literally!

Rani Singh introduces us to Gary Bosstick, a man who started out with a love for

aviation, built his first business using that passion as a vital tool, and then built a second business providing a necessary source of comfort to the Business Aviation industry.

T

Rani Singh writes about aviation. A sought after Journalist and author she also reports on news, foreign affairs, politics and business with the world’s largest news organization.

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his is the story of an entrepreneur who grew up fascinated by fast, noisy vehicles. As a teenager Gary Bosstick loved cars, motorcycles, boats and - of course - airplanes! He served in the US Navy following high school, but since airplanes had always been of interest to him, after his discharge learning to fly came high on the list of priorities – a priority he was able to meet using his GI benefits to pay for his private pilot’s certificate.

After leaving the Navy, a friend persuaded Gary to get a real estate license so as to move into that industry. People with a service background tend to be successful in real estate due to their self-discipline and organizational ability, and Gary was no exception.

Based in San Diego, California since 1963, he linked up with financial partners and began building various projects, from small retail strip centers, to industrial buildings and office buildings. And of course private aviation soon became indispensible to his business. He and his business partner soon bought a new Cessna Turbo 210.

AVBUYER MAGAZINE – October 2015

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Building a Second Business

Gary sold some buildings and was able to invest in a second business (although in real estate development, he explains, each new project is a new business).

This new business was based in Tampa/St. Petersburg, Florida, and because by now Gary had Business Aviation in his corporate structure, he could fly to Florida with more ease.

“The Florida-based company, Rutenberg Realty, was started by my brother-in-law, John Nestor, and currently has around 2,000 agents and is one of the larger Residential Brokerages in the country,” Gary explains. “Around 2006 I started selling various properties and used some of the proceeds to buy out John's founding partner.”

As business grew over the years, so did Gary’s use of aircraft. “My progress through various aircraft is as follows,” he recalls.

“The Cessna T210, Beech B36TC, Cessna 421C, Mitsubishi Marquise, Cessna Citation CJ1, a 2005 CJ3, and the current 2008 CJ3. Having a jet made more sense later.”  Aircraft Index see Page 145

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BOARDROOM T CASE STUDY

Business Aviation Helped the Business

“Business Aviation has allowed me to cover a lot of ground,” says Gary. “There were projects I simply would never have come across without the airplane and would never have considered doing otherwise.

“I recall one day I had meetings in El Paso, Texas; Colorado Springs, Colorado; Salt Lake City, Utah; and Fresno, California and needed to be home that evening. Things like that just can't be done using airlines.

“When doing work in Salt Lake, Utah, I could go there from San Diego, meet people, inspect building progress and be home in time for dinner. Without the aircraft I could not compete in those markets due to the distance.”

Natural Business Cross-Over

Gary’s construction business was doing well, and he was using his passion for flying to help the business from different aspects. As you can imagine, he spends a lot of time in the air, which led to the concept for an additional business that has since proven to be a runaway success too—a special kind of light and portable inflatable bed called JetBed that fits neatly into jets, whether big or small.

Gary highlights “the beds are more comfortable than any conventional aircraft versions, taking only about one minute to install or remove. Without the jet I would never have conceived of the idea to start JetBed. “The stimulus to invent the JetBed was simply to make flying comfortable for my wife, who has put up with my love of flying all these years! The inspiration came from the desire to make a product so my wife would be able to sleep comfortably during our trips.

My wife is asleep about 15 minutes after takeoff, and I wake her up during the landing approach. She thinks the California-Florida trip takes about a half-hour!”

As a matter of fact, JetBed has succeeded far beyond Gary’s expectations. The way he got the business off the ground is a salute to the drive of a determined entrepreneur. “I found a contract manufacturer in Corona, California that seemed to have the ability to make what I had in mind. I convinced them to meet me at Flo’s Airport Cafe at Corona Airport for lunch and flew my CJ3 up to meet them.

“Over lunch we signed a non-disclosure agreement on a napkin and started to discuss the idea. I asked for an estimate and was told it would take a few weeks to get a price. I asked for a quick, rough price along with an idea of the amount of time it might take to create.”

Gary didn’t want to wait, so he made a cheque out for twice the amount of the quote so he could get going quickly. The company realised that Gary meant business and produced the prototype immediately. But how did he build his market?

“Getting OEMs on board started when I first

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JETBED INSTALLED ON A GULFSTREAM

called people at Cessna who I’d gotten to know as a Cessna owner,” he elaborates. “I asked them for a meeting to look at an idea I was working on. I expect they agreed to the meeting just because they wanted to be nice to a repeat customer and planned on giving me about a half hour. After a few minutes they asked if I would mind if they showed the JetBed prototype to a ‘couple more people’.

“The ‘couple more people’ kept growing until after lunch Jack Pelton, then-president of Cessna, showed up and was enthusiastic about the JetBed – and we agreed that Cessna would help me offer JetBed on their aircraft,” smiles Gary.

And the product is popular; customer demand and word-of-mouth for JetBed are the driving forces in most cases. Fortunately, there was no problem getting the JetBed certified for Cessna or any of the other jets that use it. “JetBed is ‘loose equipment’, like a pillow,” he explains. “Certification does not apply, but we build JetBed to even more rigid standards than would apply in any case.”

And while some would question the need for a bed in a smaller jet, Gary answers them patiently.

“Many of the aircraft using JetBeds have long-range; some 7,000 miles or more. But even many light jets are able to fly non-stop for at least five hours – and five hours in the middle of the night is a long time not to be able to sleep comfortably – my CJ3 for example easily flies direct from California to Florida in about 4:45 hours and my wife sleeps the whole way.

“Large jet clients love my JetBed because prior to JetBed, there were no products even remotely as comfortable and easy to use,” Gary summarizes, adding, “Once a user tries a JetBed they insist on having them.” T

“The ‘couple more people’ kept growing until after lunch Jack Pelton, thenpresident of Cessna, showed up and was enthusiastic about the JetBed.”

More information www.jet-bed.com

Are you looking for more Business Aviation Case Studies?

Visit www.avbuyer.com/articles/categories/ business-aviation-interview-case-studies

www.AVBUYER.com

Aircraft Index see Page 145

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BOARDROOM T OWNERSHIP

MOVE Documentation: A System to Capture Business Aviation’s Value & Efficiency

David Wyndham proposes measuring and documenting the benefits of operating business aircraft using a protocol he calls MOVE. David Wyndham is co-owner & president of Conklin & de Decker where his expertise in cost and performance analyses, fleet planning and life cycle costing are invaluable.

He’s formerly an instructor pilot with the US Air Force.

Contact him via david@conklindd.com

64

light Departments are no longer just in the business of ‘safe and efficient transportation’. They need to demonstrate how well they are serving corporate goals and enhancing shareholder value. Hours flown and passengers carried are not enough. We need appropriate aviation-centric metrics, which are in fact Measures of Value and Efficiency. For the sake of identification, we will call the metric MOVE. In past articles we have discussed why the Flight Department needs to be treated like any other business unit. One of the ways we manage a busi-

F

AVBUYER MAGAZINE – October 2015

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ness unit is to have metrics that accurately and fairly measure its effectiveness. For a business unit that produces a product or service available for sale, initial metrics center around the Return on Investment (ROI).

Flight Department’s ROI

The initial investment is easy - we have the asset of the aircraft, the facilities, and to those elements we must consider expenses of operating the aircraft along with salaries and overhead for relevant personnel. If we think in terms of an Income Aircraft Index see Page 145

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The aviation department can develop a metric for capturing the ‘income’ it makes possible. Aviation Managers should develop a metric that assigns a value to trips where passengers use the company aircraft to build new business, renew existing contracts, solve supplier problems, keep assembly lines functioning, etc. The aircraft allows corporate passengers to generate profits for the company by using their time efficiently in support of business goals. Travelers on business aircraft use their travel time as they would use time in their office. Furthermore, they apply their talents and skills where they are most effective. The challenge is to assign realistic values to those accomplishments.

Identifying Value

Statement, the cost of obtaining and operating the company aircraft is on the expense side of the ledger.

Since the in-house Flight Department typically does not produce a product or service that is sold outside the company, what is missing is the ‘income’ produced by providing transportation via the company aircraft. Aviation is like many other corporate units such as Human Resources and Legal that perform critically important functions in allowing the company’s profit centers to operate successfully.

The aviation department also allows the profit centers to perform efficiently by transporting the right person to the right place at the right time.

Such mobility is in fact the ‘product’ of the aviation department, and the value or ‘income’ derived from that product should be measured and documented.

Advertising Enquiries see Page 4

“The aviation department can develop a metric for capturing the ‘income’ it makes possible.” www.AVBUYER.com

Start with why: why does the company have a business aircraft? There a many reasons, and those reasons define the appropriate MOVE metrics. For a multinational company with a high-profile leadership team, the enhanced security offered by business aircraft, especially in global hotspots, is a must. The number of sensitive trips flown, the avoidance of fuel stops, and perhaps even the security rating of the various FBOs used can all be measured and come into play.

Passengers carried (or passenger-miles flown) is not the most useful metric for the effectiveness of a security program. It is difficult to place a value on security, but a place to start is assessing the losses that might occur if security was breached.

The company that uses the business aircraft to shuttle employees between various plants needs high passenger loads. Trip frequency, passenger loads, and passenger-miles flown are all useful MOVE metrics for a shuttle. The goal is to keep or improve load factors. And of course, cost per passenger-mile flown for a shuttle is critical. Eliminating the cost of multiple airfares, however, is only a small part of the “income” provided by a company shuttle. Time saved is the big payoff as well as allowing passengers to interface while en route without fear of disclosing company plans or trade secrets.

Do you use the business aircraft to support sales and cultivate your top customers? How often do you fly these customers, what is the sales volume to your company, and does changing the number of trips impact yearly sales volume? How often is the business aircraft used to cultivate new customers or support existing clients? What is the company’s October 2015 – AVBUYER MAGAZINE

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expansion (as well as the aviation department’s growth) based on how often, where, and how many passengers the aircraft transports? What does your lead passenger or authorizing executive believe is the value of a particular customer visit?

Using a methodology that is accepted by the executive overseeing Business Aviation, document sales trips flown each year. Also, note that not all sales trips have the same value. One that is instrumental in securing a significant order should be valued higher than a routine customer visit.

Flight logs, especially if digitized, can provide valuable data for a MOVE metric. In addition to the basic flight parameters of destinations and flight times, they can also collect passenger lists, business department affiliation and purpose of the trip.

Depending on the length of the trip, these data can also be used to calculate overnights avoided.

It may be possible to add custom fields that further define the business purpose and nature of customer-support or revenue-generating travel.

The general raison d'être for air travel is to make the best use of time. A useful MOVE metric is to assign a value to the time not “wasted” versus less efficient methods of travel. The NBAA used to sell a program, Travel$ense, that allowed your travel department to compare the time and cost of the business aircraft versus the airlines. That program is no longer supported, but the methodology can be replicated. Rather than do it for every trip, do an analysis for the most frequently flown trips.

Time saved via the business aircraft then needs 66

AVBUYER MAGAZINE – October 2015

to have a value assigned based on the value of the travelers. An employee, whether an engineer or CEO, is worth a multiple of their base salary. Assign values to the categories of travelers’ time along with a calculation for time not spent in travel.

Summary

The concept of MOVE is to establish a yardstick or measure for the various ways in which a business aircraft generates ‘income’ for the company. Some will simply be time saved. Greater returns flow from the business derived because passengers are more effective in accomplishing their jobs. Such success should be measured using a metric that has been vetted by the executive overseeing Business Aviation and accepted by users of the company aircraft.

Just as an income statement is prepared for traditional business activity, a similar approach applying MOVE metrics should be used to demonstrate the business success of the aviation department.

MOVE metrics must relate to corporate goals.

The value of a business aircraft can be connected along the lines of productivity, customer service, sales growth, security, etc. Developing MOVE metrics start with the basic data all aviation departments track but need to expand to those results that connect to the corporation’s goals. T Are you looking for more Business Aviation Ownership articles? Visitwww.avbuyer.com/articles/ category/business-aviation-ownership www.AVBUYER.com

“Such success should be measured using a metric that has been vetted by the executive overseeing Business Aviation and accepted by users of the company aircraft.”

Aircraft Index see Page 145

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BOARDROOM T BUYING & SELLING

Top Tips for Buyers and Sellers of Aircraft: Five Things Board Members Should Know in a Recovery

Since 2008 the market for buying and selling business aircraft has been challenging, but Jay Mesinger suggests that things

are changing and a recovery may be afoot. Here is his advice on how best to handle what he sees as an emerging ‘new normal’.

Jay Mesinger is the CEO and Founder of Mesinger Jet Sales. Jay serves on the Jet Aviation Customer and Airbus Corporate Jets Business Aviation Advisory Boards (BAAB). Contact Jay at jay@jetsales.com

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ow is the time to shift from business as usual based on the last seven years and start acting in response to something welcome and new—a recovery. Old habits are hard to break, but give it your best shot. Break those habits borne from recession; let’s learn some new techniques.

While both actions are fundamental to all

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transactions, buying and selling are distinctly different and have different perspectives. Sellers want to sell for more, and Buyers want to pay less.

These two perspectives are not mutually exclusive, however. Both sides can come away with a feeling of accomplishment. Both sides can maximize their respective outcomes. Confident that we are entering a period of recovery, consider the following five useful tips for buyers and sellers.



Aircraft Index see Page 145

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BOARDROOM T BUYING & SELLING

Buying •

•

•

•

•

Segment the Market: Never take a 30,000 foot perspective of a market. This viewpoint will lead you to have false expectations and possibly cause you to make decisions based only on selling price. Price is a onetime thing.

Cost, however, can be a lifetime thing. If you look quickly at a given market you might say, “Wow, there are 35 of those models for sale so we can steal one for sure”. The fallacy of that perspective in a recovery is that not segmenting the offerings correctly will leave you focused on the wrong areas of the selection process (see p56 of this issue for more).

Seek Professional Representation: Obtain smart representation when developing and responding to a Purchase and Sale Contract.

Make the investment in hiring counsel for tax and contract support—that approach will never work against you. Complexity in this global environment begs for specialty representation.

Engage Your Flight Department: Always consult your flight and maintenance professionals early in the purchasing process.

So often buyers feel that too many cooks in the kitchen can spoil the meal. Wrong! Just be sure to have a Head Chef in the process. Then the outcome of the recipe will be positive.

Conduct a Thorough Inspection: Never think that just because an aircraft has had a major inspection your own examination is unnecessary. Carefully review the work, know that the facility that performed the work is a factory authorized facility, and be sure that the corrective action (if any) was done to the manufacturer’s standards.

Use an Experienced Maintenance Facility: Regarding pre-buy due diligence, always choose a shop that has considerable experience in the aircraft make and model you are considering. A good shop that is experienced with the aircraft model being inspected will not spoil a deal. They may cost slightly more than a run-of-the-mill facility, but they will have the capability to stand behind their work and deliver on their promises.

Selling •

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Segment the Market: Like the advice we offered above on buying, never take a 30,000 foot perspective of the market. This logic serves both the buyer and the seller. It is critical when you place an aircraft on the market for sale that you understand how a buyer would view your offering. Run the segmentation exercise with your broker so you are not surprised by offers made. More importantly, like it or not, know when to say “yes” to an offer.

AVBUYER MAGAZINE – October 2015

•

•

•

•

Seek Professional Representation: Never approach a market without professional representation on your side. Paying a professional to provide this assistance typically will reward you with fewer days on the market and net you a higher price for your aircraft when sold.

Present Accurate Specifications: Always be sure your sales professional has built specifications for your aircraft that are accurate and that properly represent your aircraft in its current condition. Be transparent about repairs or damage. Never omit these matters from early discussions with buyers. The worst time for buyers to find out about inaccuracies in specifications or damage repairs not disclosed is once the aircraft gets to a pre-buy inspection.

Deals are lost, costs for sellers escalate and bad feelings will abound. Keep deals together with facts.

Remove Vagueness in Agreements: Always strive for clarity and comprehension between yourself and the buyer. Leaving agreement details vague in hopes that this style will serve you in a transaction never works. Do not leave items up to interpretation by someone who appears to be a disinterested party to this transaction.

Have On-Site Pre-Buy Representation: Never go to a pre-buy without on-sight representation present and engaged during the course of the inspection. Even if you do employ a maintenance director, insist that whomever you hire as your sales professional provides this oversight in their fee. Maintenance is one thing and is not meant to be minimized in this discussion, but selling is very different.

Combining your maintenance staff with the broker’s transaction-savvy maintenance staff ensures usual and customary processes with successful outcomes.

“A good shop that is experienced with the aircraft model being inspected will not spoil a deal.”

There you have it: Use common sense. In the real world there are more than five tips for success.

I could write a book for buyers and another for sellers, but space and time do not allow for that expansion on the topic. I assure you, however, that considering this article’s set of tips provides a reasonable certainty of completing a transaction successfully. Welcome to the recovery! T Are you looking for more Business Aviation Ownership articles? Visit www.avbuyer.com/ articles/category/business-aviation-ownership/

www.AVBUYER.com

Aircraft Index see Page 145

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BOARDROOM T TAX

Understanding MACRS & ADS

Business Aircraft Federal Tax Depreciation Basics (Part 1) Attorney Troy Rolf dissects the details of depreciation and describes how this accounting principle can benefit owners of business aircraft.

Troy Rolf manages the Minnesota office of GKG Law P.C., and concentrates his practice in the areas of business aircraft transactions and operations. He is a qualified Commercial Pilot and Advanced Ground Instructor. Contact him at Trolf@gkglaw.com

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he US Government allows owners of equipment used for generating income or otherwise ordinary and necessary for the conduct of business, such as a business aircraft, to depreciate the original purchase price of the hardware and deduct the amount eligible for depreciation from revenues.

The equipment owner has two basic means for calculating depreciation: Modified Accelerated Cost Recovery System (MACRS) and the Alternate Depreciation System (ADS). Furthermore, depreciation is subject to the use of eligible equipment and to special rules the US Congress enacts from time to time to encourage the purchase of a business asset.

Many aircraft owned and operated for business

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use are depreciable for federal income tax purposes under the MACRS of Section 168(b) of the Internal Revenue Code, which permits taxpayers to accelerate tax depreciation by allowing a greater percentage of the deductions to be taken during the first few years of the applicable recovery period, compared with using a straight-line depreciation method (i.e., ADS). Of course, the tradeoff is that less depreciation will be available to offset income in later years.

Some aircraft are depreciable for income tax purposes but do not qualify for accelerated depreciation under the MACRS system. In that case, the aircraft may be depreciated under the ADS of Section 168(g) of the Code, which allows depreciation on a straight-line basis and thus results  Aircraft Index see Page 145

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BOARDROOM T TAX

in equal deductions each year during the recovery period. Recovery periods under the ADS system are typically longer than recovery periods under MACRS for the same property.

Whether or not a taxpayer may depreciate an aircraft, and if so, the appropriate depreciation method and recovery period, depends on several factors. These include the category of aircraft (e.g., airplane or helicopter), and the type of use to which the aircraft is put (e.g., personal, business, or commercial charter).

Aircraft, other than helicopters, used in commercial activities or contract carrying of passengers and freight by air (e.g., typical Part 135 operations) may be depreciated under MACRS over seven years, or under ADS over twelve years. Aircraft used for qualified business purposes or for the production of income (e.g., typical business-use Part 91 operations), and all depreciable helicopters, may be depreciated under MACRS over five years, or under ADS over six years.

Qualified Business Use

If an aircraft is used part of the time for a qualified business and/or commercial purpose, or for the production of income, and part of the time for personal, non-business purposes, the depreciation deduction allowable for the taxable year will be limited to a fraction of the depreciation deduction that would have been allowed had the aircraft been used solely for business purposes. (As a general rule, a qualified business purpose is any use in a trade or business for which a deduction would be allowed under Section 162 of the Code, which defines deductible trade or business expenses.)

The depreciable basis of the aircraft will nevertheless be reduced by the entire amount of depreciation that would have been allowed had all the use of the aircraft during the year constituted Business Use. In addition, whether the depreciable portion of the aircraft may be depreciated under MACRS, or will be required to be depreciated under ADS will depend on which use predominates. If more than 50% of the use of the aircraft during each taxable year constitutes Business Use, the predominantly business use test is satisfied and the depreciable portion of the cost basis of the aircraft generally may be depreciated under MACRS. However, if 50% or less of the use of the aircraft during each taxable year constitutes Business Use, ADS will apply.

The predominant business use test must be met during every taxable year that the aircraft is in service.

The consequences of failing the test in even a single taxable year can be severe. If the test is failed during any taxable year that the aircraft is in service, the aircraft must be depreciated under the ADS system during such taxable year and all subsequent taxable years. In addition, if the aircraft had been depreciated under MACRS during any prior taxable 74

AVBUYER MAGAZINE – October 2015

“Certain uses of an aircraft by a business entity that arguably may be considered qualified business uses nevertheless will not qualify under certain circumstances.”

year, the taxpayer must recapture prior depreciation to the extent that depreciation deductions taken during prior years exceed the deductions that would have been allowed under the ADS system.

Certain uses of an aircraft by a business entity that arguably may be considered qualified business uses nevertheless will not qualify under certain circumstances. Specifically, any use of a business aircraft falling within any one of the following three categories will not be treated as a qualified business use for depreciation purposes unless all other qualified business uses (i.e., all qualified business uses excluding any use falling within one of the three categories) comprise at least 25% of the total utilization of the aircraft during the applicable taxable year: 1. The leasing of the aircraft by a company to any person who owns 5% or more of the company, or to any person who is related (within the meaning of Section 267(b) of the Internal Revenue Code) to a person who owns 5% or more of the company.

2. Use of the aircraft to provide compensation (i.e., to provide personal, non-business-use flights without reimbursement at fair market rates) to any person who owns 5% or more of the company, or to any person who is related (within the meaning of Section 267(b) of the Internal Revenue Code) to a person who owns 5% or more of the company.

3. Use of the aircraft to provide compensation to any other person unless an amount is included in the gross income of such person with respect to such use of the aircraft, and any required income tax was withheld (e.g., income is imputed under the Standard Industry Fare Level (SIFL) formula).

Next month Attorney Rolf will address Mixed Business Use, such as deriving income from chartering the aircraft when it is not involved in company activities. T Are you looking for more Business Aviation Tax articles? Visit www.avbuyer.com/articles/category/business-aviation-tax/

www.AVBUYER.com

Aircraft Index see Page 145

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BOARDROOM T INSURANCE

BizAv Insurance Caveat Emptor!

Beware of Insurance Deals That Seem Too Good to be True

Because aviation insurance is a product that many buyers do not understand, beware of misleading advertising and unscrupulous tactics, warns Stuart Hope.

Stuart Hope, co-owner of Hope Aviation, is a licensed Airline Transport Pilot and a frequent NBAA speaker and industry authority oninsurance and risk management topics. Contact him via shope@hopeaviation.com

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A

n owner of a Falcon 900 and one of my clients recently forwarded me an email he had received from an indiviual claiming to be an ‘aviation insurance broker’. Addressing the Falcon 900 owner by his first name, the sender of the email insinuated they had already been in contact and that he had been ‘researching the insurance market to find him the best rate’. The broker then listed several prominent insurance companies he suggested were giving him preferred terms.

Next he stated that he had quoted other Falcon 900s (he did not give the year model) and provided a hull rate and a liability premium for a $250m limit.

Further, he implied he always gets insurers to grant a

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No-Claim Bonus, Lay-Up Credits, and flexibility on Pilot Training. The broker finished by saying he would be at his desk that morning working on similar “deals” he had already put together for other jet owners and would welcome my client’s call to discuss.

The term scam ‘artist’ is apropos for some situations, since creative individuals with dubious motives are very good at ‘painting’ an enticing picture. Like most scam emails and letters we receive, they appear very convincing. But when we take a little time and break them down piece by piece, it becomes apparent we are being ‘worked’. Let’s look at the above email and find the tell-tale signs of a scam in progress.

Aircraft Index see Page 145

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A Closer Look

How did the email sender know my client’s first name, email address and that he owned this aircraft? That one is easy.

There are several companies that sell this type of intelligence.

Login and ask for information on all large cabin business jets (or a specific bizjet), and the registered owner, address, chief pilot’s name, CFO and secretary along with their office location, cell phone numbers and email addresses appear.

It’s scary.

By suggesting they had already been in contact, my client thinks “well maybe my pilot or CFO has been seeking a quote from this broker. Clearly if he has been ‘researching the insurance market’ someone gave him permission to do so on our behalf”. Our ‘artist’ then lists several well-known insurance companies with national brand names from which he is getting preferred rates. Since no one would be familiar with this broker’s name or firm, he uses the age old trick of coattailing off a known brand.

Perhaps the broker’s most effective tactic is stating premium rates he has gotten for other owners of the same model aircraft. As stated earlier, he didn’t mention the year of the Falcon 900s he claimed to cover, just the type aircraft.

The only way to get my client’s or another potential victim’s attention is to promise what we want to hear - a premium too good to be true. Otherwise his game is over. But he doesn’t lie. He simply quotes the lowest rate possible on a Falcon 900, which would be for a brand new one. My client’s aircraft is 10 years old and would not get the new-aircraft rate from any insurance company.

To use a fishing term, the broker then throws out some ‘chum’ - offering coverage options such as a No-Claims Bonus, Lay-Up credits, and flexibility on pilot training. These options are not always available, but then again he didn’t say they were.

The signs are all there. The big red flag is when we have to ask - “Who is this guy?” Use Google for a quick background check. Most insurance brokers will have a legitimate looking website, but dig a little deeper and you will find there is no substance. The appearance is all smoke and mirrors.

There is typically no indication of how long the broker has been in business, what his insurance credentials are, etc.

Also, these brokers will imply they do business with all aviation insurance carriers and will list the insurers by name on their website even though often they are not licensed with them. As it turns out, the broker in this example had already had his license revoked by the same insurers he said were giving him ‘preferred rates’.

It’s unfortunate that we have to put up with individuals such as the one described in this example, but it’s the world we live in. Questionable actors trash the market, creating the perception that better deals exist while indirectly implying current aviation insurance brokers and insurers have been ‘ripping clients off’.

Rather than competing on the basis of honesty, integrity and excellence, some sellers cannot escape the lure of easy money and adhere to the philosophy “a fool and his money are soon parted”. T

“There is typically no indication of how long the broker has been in business, what his insurance credentials are, etc.”

Are you looking for more Business Aviation Insurance articles?

Visit www.avbuyer.com/articles/category/ business-aviation-insurance Advertising Enquiries see Page 4

www.AVBUYER.com

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Avionics Mandates

(Part 10) An Introduction to ‘Data to Inform’

Helping you understand avionics advances and related requirements for equipage, Ken Elliott reviews aviation technologies within the

NextGen/SESAR architecture, this month focusing on data to inform.

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Ken Elliott is a highlyrespected industry authority on avionics as a member of the NextGen Advisory Council sub-committee and Technical Director, Avionics at Jetcraft.

Contact him via kenelliott@jetcraft.com or www.jetcraft.com

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ature seems to have a way of moving forward in its evolution by deliberately imprinting a certain amount of unpredictability into its design. If you have ever studied Nature’s most perfect creations, you will notice imperfections that support this hypothesis.

These apparent anomalies possibly trigger building blocks of natural selection. Unfortunately, even though an integral part of Nature, humankind has not quite grasped this characteristic of natural phenomena and continues to strive for the ultimate in perfection in all of its activity.

So, as we slowly understand and attempt to perfect the world around us, we continue to grapple with the unpredictability of the natural world. For aviation, there is the inability to reliably predict both weather and the fluctuating dynamics of four-dimen-

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sional airspace. For ground transportation, dealing with movement across the earth’s two dimensional surface and adding a third dimension for time, is one challenge. But for aviation, dealing with threedimensional airspace and adding time as a fourth, is quite another.

We can best deal with unpredictable weather and the complex multi-dimensional aspects of airspace by collecting, analyzing and interpreting data. For pilots alone, aircraft already receive and send volumes of data covering everyday flight (see Table A, overleaf).

Fundamentally NextGen technologies, including the mandates we have been covering in AvBuyer, focus on the weather and airspace challenges.

Data provide information in Key Performance Indicators (KPIs) that inform Key Performance Areas (KPAs). These are measurements or metrics. So while Aircraft Index see Page 145

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FLIGHT DEPARTMENT T AVIONICS MANDATES

Table B (middle, left) provides an example.

Tied specifically to the current focus of the FAA’s NextGen program are a set of metrics prioritized to monitor short- to medium-term implementations. This set is shown in Table C (bottom, left).

Air carriers have been collecting, analyzing and interpreting statistics for a number of years, primarily through Aircraft Communication Address and Reporting System (ACARS). This legacy data protocol is OOOI-based (Out/Off/On/In). More detailed and diagnostic data, from flight data acquisition units, are providing valuable safety-related information to inform the flight safety metric.

These reports, once desensitized by MITRE, are shared with FAA via the Aviation Safety Information Analysis and Sharing (ASIAS) program. This is also known to Congress as the Aviation Safety Action Program (ASAP) and Flight Operational Quality Assurance (FOQA) Implementation Plan. For corporate operators there is C-F0QA, with a number of users embracing the program as part of their Safety Management System (SMS) requirement.

Data Collection

we have a wide spectrum of inbound and outbound information from an aircraft, some of it can be used to create and inform metrics.

Metrics provide insight to air traffic controllers, regulators, operators and the general public (as both users and taxpayers). All these parties are stakeholders in the National Airspace System (NAS).

For air carriers, the desired metric outcomes are predictability, efficiency and (by 82

AVBUYER MAGAZINE – October 2015

default) cost. Most important for operators of business jets and turboprops is the ability to perform and complete a flight as filed (which presumes access to airspace), while predictability, efficiency and cost metrics are of a high priority.

Aligned with, and including these priorities are a series of KPIs and KPAs used

by ICAO, FAA and other aeronautical agencies to inform their program implementations. The full list is extensive but www.AVBUYER.com

For business jet and turboprop data, metrics and outcomes may be very useful to owners, shareholders and CFOs of companies that operate business aircraft.

Information provided can inform decisions on day-to-day operations, aircraft replacement, upgrade, utilization and flight department efficiency.

While air carriers share statistics beyond their internal audience, they prudently do so via a firewall. Each item of data provided to a third party is de-identified for sensitive information such as registration number, pilot details and more.

Sharing of critical information, both internal and external, is a sensitive matter, but methods exits to ensure security and identity protection.

Non air carriers currently share information on a very limited basis. The Flight Safety Foundation’s (FSF) and NBAA’s Business Aviation Safety Summit (BASS), recently focused on the importance of data sharing and analysis. Apparently, the ASIAS program has recruited 12 corporate flight department members and is looking for more participants to include Corporate Aviation within the same analysis strategies that have helped to reduce the air carrier accident rate.

In March 2015, NetJets donated funds Aircraft Index see Page 145

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to Ohio State University, part of which is to be used for research involving the integration of data analytics with aviation operations to develop new concepts that will improve safety, accessibility and sustainability.

Momentum and interest is gaining in the Corporate Aviation environment to collect flight information as a productive business practice. If involving ‘no harm’ and minimal effort, operators may share de-identified versions of insightful data to FAA and others, who in return can improve ATC, aviation services, NAS performance and of course safety.

Proposed FAA limits at the big three New York area airports are a concern for corporate operators.

Their representatives at NBAA and NATA believe that justification for the per hour slot limits affecting unscheduled traffic at each airport is not based on industry data. Teterboro is normally the airport of choice for corporate operators in the New York Metroplex but occasionally unscheduled flights do need to land at one of the big three airports.

Corporate Aviation and their representatives should have the data to support their positions on these types of NAS issues, but they need operators and others to assist.

Methods for the Acquisition of US NAS Data US NAS data are acquired and processed for FAA

by NASA, MITRE and others. Some of this information is accessible and much is for internal consumption. The FAA in turn shares a significant amount of airspace statistics via the FAA Data Access System (https://aspm.faa.gov/). Much of this shared data is focused on air carrier activity, but buried within is useful non-air carrier intelligence.

FAA Database Access Systems are as follows: • • • • • •

Aviation System Performance Metrics (ASPM) Operational Network (OPSNET) Traffic Flow Management System Counts (TFMSC) Airline Service Quality Performance (ASQP) Terminal Area Forecast (TAF) Business Jet Reports.

Data, for business jets and turboprops, are broadly centered on operations categories, aircraft types, activity by airport and fuel use. It is accessed by a number of non-government data miners, and along with information from other sources, can contribute to very informative statistics. Significantly and surprisingly, these analytics can be revealing for aircraft trading (see ARGUS’s TRAQPak for example).

Companies such as FlightAware, masFlight-GEE, Flightglobal and PASSUR provide (via the Cloud) analysis and extensive flight tracking information useful to operators of business jets and turboprops.

For aviation weather sources, it is recommended (in the US at least) to deep dive into what is provided by reading FAA AC 00-45G Change 2 (2014).

This document provides all the FAA, NOAA and Advertising Enquiries see Page 4

associated sources for aviation weather, as well as over 400 pages of useful weather-related data.

Similar weather and other aircraft performance sources can be found internationally, utilizing standard ICAO terminology.

Lastly, it is recommended to spend a few minutes reviewing the FAA NextGen Performance Snapshots website https://www.faa.gov/nextgen/snapshots/.

Here may be found a wealth of data-derived information, regarding the NAS and its various users.

Next month, Ken Elliott will conclude this assessment of valuable data sources and applications. T Are you looking for more articles on Avionics?

Visit www.avbuyer.com/articles/category/business-aviationavionics

www.AVBUYER.com

October 2015 – AVBUYER MAGAZINE

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Maintenance Oct15.qxp_Finance 22/09/2015 11:48 Page 1

FLIGHT DEPARTMENT T MAINTENANCE

Third-Party Business Aviation Maintenance Plans An Operator's Powerful

Ally When AOG Strikes…

The quantifiable value third-party aircraft maintenance plans bring to their subscribers covers multiple areas, notes Dave Higdon. If financial predictability, higher residual value for a covered aircraft and, in times of need, expert maintenance assistance appeal to you, read on... t is well documented that aircraft covered by maintenance programs typically command higher prices when sold. Records of work undertaken and the knowledge of vendors all factor. But it's the here-and-now reality of an AOG situation that shows the real worth of such programs to owners of aircraft out of OEM warranty.

Third-party providers such as Jet Support Services Inc. (JSSI), and factory-supported programs such as Rolls-Royce CorporateCare, Honeywell's avionics, mechanical and maintenance plans, or the per-hour plans of many other airframe, avionics and engine makers deliver their

I 84

AVBUYER MAGAZINE – October 2015

protection based on a set hourly fee.

It's the ability of tapping their expertise and maintenance contacts that offers subscribers peace of mind at having expert help standing-by for when the airplane breaks.

Previously we examined the value of keeping the contact information to hand for OEM mobilemaintenance providers. For subscribers to maintenance plans with AOG services, preparing for the possibility of an AOG can distill down to just one point of contact – the 24-hour phone number for that aircraft's third-party maintenance coverage firm.

www.AVBUYER.com

Aircraft Index see Page 145

Maintenance Oct15.qxp_Finance 22/09/2015 11:48 Page 2

nance program, but third-party programs from independent vendors like JSSI are also available – even for new model aircraft, avionics and engines. And it's by hedging against those unplanned maintenance events that these plans win their greatest praise – typically for being the one number to call for any and all AOG situations.

Dave Higdon is a highly respected aviation journalist who has covered all aspects of civil aviation over the past 35 years. Based in Wichita, he has several thousand flight hours, and has piloted pretty much everything from foot-launched wings to combat jets. Contact him via Dave@avbuyer.com

Picking a Provider...

Hourly Plans

From the people who bring their experience and collective knowledge comes access to a deep institutional memory and list of contacts. They apply their knowledge and expertise for the benefit of their clients – and in turn, operators appreciate the comfort of knowing a human will respond to their problems on the other end of the line anytime help is required.

Enrollment in such a program can cover anything from engines alone, airframe, avionics and mechanical systems. The top coverage, while not always available for every aircraft model and powerplant combination, is the tip-to-tail plan (like that offered by JSSI). The gold-standard level coverage insulates the operator from the financial shocks of both pre-budgeted, planned maintenance needs and blue-sky budget hopes for covering unplanned events.

Virtually every engine and airframe-maker offers its own variation on a per-hour mainteAdvertising Enquiries see Page 4

While some operators grumble about the costs of these per-hour maintenance-coverage programs, most enrolled recognize them for what they are: Insurance against budget swings and a defense against being stranded with no help close by.

Firms like JSSI and Rolls-Royce offer their programs at various levels, and for a large segment of the fleet. The most-valued plans for pre-owned aircraft operators remain engine coverage. If enrollment starts when the engine is new or fresh from an overhaul, the per-hour costs tend to be lower because of the longer period over which those costs can be spread.

For a 20-year-old jet with engine overhauls looming at a total cost of $2m (for example), selling that jet can be more problematic without the coverage of an hourly maintenance plan. If the aircraft value at sale is $4m, a buyer is really looking at a $6m investment (i.e. the cost of the aircraft plus the cost of the overhauls, which account for half the aircraft's value).

For that same jet enrolled in a plan with full coverage, the cost of overhaul is already covered. Even if other, non-covered maintenance looms which way would you prefer to buy the airplane - with, or without the hourly plan in place?

The same theory works for avionics and airframe plans, too. Yes, these plans add to the perhour operating costs – but no more than what a savvy operator would need to budget as a reserve against future maintenance needs. But they save elsewhere, too, setting up the reserve for overhauling engines, as well as providing coverage for unplanned maintenance.

“Yes, these plans add to the per-hour operating costs – but no more than what a savvy operator would need to budget as a reserve...”

Part of the Asset

Generally speaking, these plans provide some degree of portability; the plan attaches to the aircraft, not the operator. But it's a point to check if you are considering enrollment in a per-hour maintenance-coverage program.

Portability will typically affect the rate, and may hinge on the third-party people assuring completion of all routine and preventive maintenance on time and to factory standards. But assuring portability also helps boost the aircraft's value when time comes to sell.

AOG Expert on the Line...

The comfort of knowing the flight crew doesn't need a maintenance-resource reference guide comes in particularly useful when the crew faces www.AVBUYER.com



October 2015 – AVBUYER MAGAZINE

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FLIGHT DEPARTMENT T MAINTENANCE

one of those unpredictable events that grounds the aircraft. “When we had a landing-gear system breakdown at a small Georgia airport last year we felt grateful for three things: That the failure happened while we were on the ground; that we caught it before taxiing; and that we needed only to call our maintenance plan's AOG line to start things moving,” one operator told AvBuyer recently.

This chief pilot elaborated that calling the plan's AOG line wasn't like calling for warranty service for his smartphone, notebook computer or home cable television service. “We'd used this once before, but we were still somewhat surprised that an actual human answered. No trip through the 'Voice Mail Maze' to get to a person that could help us.”

The maintenance plan's staffer took the account information, the airplane's location, a description of the problem, and within minutes was able to tell the captain what to expect.

“Ninety minutes after we hung up, a remotemaintenance crew arrived, taxied to the ramp next to us and the maintenance team began 86

AVBUYER MAGAZINE – October 2015

work almost before the chocks were in place,” the captain related. “Enrollment in that hourly maintenance plan not only got us on our way within four hours, but also helped convince the new owner of the value of our airplane when he bought it.”

The combination of a per-hour or pre-paid maintenance program and AOG remote-repair services provide a powerful solution to those problems that keep the airplane from moving.

Whether the coverage comes from a factorysupported plan – such as Rolls-Royce's CorporateCare, or from a third-party powerhouse like Jet Support Services Inc., nothing short of carrying a maintenance mechanic and spare parts can match the flexibility and responsiveness these programs provide. T

Find out more at JSSI: www.jetsupport.com; Rolls-Royce Corporate Care: www.rolls-royce.com/customers/civil-aerospace/ services/corporatecare.aspx#overview www.AVBUYER.com

“...nothing short of carrying a maintenance mechanic and spare parts can match the flexibility and responsiveness these programs provide.”

Aircraft Index see Page 145

P087.qxp_Heeren Cit Ultra sep 23/09/2015 15:58 Page 1

Swiss E xcellence in Business Aviation

Corporate and private aircraft maintenance, refurbishment and completion services AMAC Aerospace Switzerland AG Henric Petri -Strasse 35 4051 Basel, Switzerland

a Advertising Enquiries see Page 4

www.AVBUYER.com

Telephone + 41 58 310 31 31 info@amacaerospace.com www.amacaerospace.com

October 2015 – AVBUYER MAGAZINE

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Management 1 Oct15 .qxp_Finance 22/09/2015 15:45 Page 1

FLIGHT DEPARTMENT T MANAGEMENT

Creating a Flight Department (Part 5)

Thoughts on the Operations Manual Fred Haap continues his series on Flight Department formation based upon his many years of experience leading the Business Aviation operations of a Fortune 500 company.

S

tandard operating procedures and check lists are followed by even the most experienced aviators. Similarly, the most successful Flight Departments establish an Operations Manual containing the administrative, operational, and maintenance procedures to be followed in fulfilling the company’s use of business aircraft.

While mandated by the Federal Aviation Administration for flight operations providing commercial services under FAR Part 135, operators of company aircraft not engaged in flying for hire or reward are not required to have or use an ops manual. Best practices, however, urge operators to prepare and utilize an ops manual. In fact, the National Business Aviation Association requires that firms possess an Operations Manual to be eligible for Corporate Membership.

An Operations Manual is a dynamic, multipurpose document that defines the Flight Department’s structure and institutionalizes the procedures it uses to fulfill the department’s Vision and Mission as stated in its business plan (see Part 2 of this series, July

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AVBUYER MAGAZINE – October 2015

2015, page 94). Thus the ops manual is a basic element in communicating the value of aviation services to the corporation and articulating why using business aircraft will benefit shareholders. It also forms the basis for interaction between the Aviation Manager and the corporation’s top management. All elements of running the company’s Business Aviation activities are included, ranging from scheduling, conducting flights, maintaining the aircraft, budgeting, and reporting ongoing financial performance to management.

The ops manual presents Standard Operating Procedures (SOPs) and required performance for each activity of the Flight Department. Without established standards clearly stated in writing and understood by all parties, there are no standards.

Without Standard Operating Procedures, efficiency suffers and risk of mishap increases. Without clearly defined expectations, there is no accountability.

Just as professional aviators are schooled in proper techniques and embrace best practices, well run Flight Departments follow a culture of planning and explicit execution. The ops manual is their bible.

www.AVBUYER.com

Aircraft Index see Page 145

Management 1 Oct15 .qxp_Finance 22/09/2015 15:46 Page 2

Comprehensive

In addition to documenting best practices for each aspect of flight, the ops manual should contain sections for aircraft maintenance, security, international operations, Emergency Response Plan, and administrative activities such as scheduling, documentation of flight activities, systematic reporting to top management and personnel issues.

The department’s organizational structure needs to be specified, with each position identified and defined by an unambiguous job description and requirements for employment. Standards of conduct and appearance should be established. For example, if the company expects its male aviators to limit their facial hair to neatly trimmed mustaches, that expectation should be stated in the ops manual.

The ops manual is the place to specify procedures for acquiring additional lift during periods of high travel demand or when the company aircraft is not available. Potential charter providers should be identified following a careful vetting through safety audits of their qualifications and accident history.

The approved list of charter operators should be provided to individuals responsible for scheduling.

These personnel should be unwavering in their adherence to chartering protocols.

Safety procedures, including the discipline of annual audits, must be specified. Best practices Advertising Enquiries see Page 4

urge internal safety audits alternated with external reviews by a third party. Thus audits are conducted every 12 months, and every other assessment is provided by an external agency or credentialed auditor.

Flight departments are encouraged to consider the safety protocol known as International Standards—Business Aircraft Operations (IS-BAO), which was developed by the International Business Aviation Council (IBAC). IS-BAO Registration of a flight department is accepted by many aeronautical authorities throughout the world as one that utilizes an approved Flight Operations Manual and Safety Management System (SMS).

In addition to documenting safety procedures, the ops manual should contain a signed statement from the corporation’s Chief Executive Officer unequivocally endorsing the Flight Department's safety procedures and explicitly stating that the captain’s decision regarding all flight operations is final. Furthermore, passengers must be informed that exerting pressure on the flight crew to depart or land, or otherwise unduly influence the captain’s authority, is unacceptable and will not be tolerated.

Contingency procedures should be included in the administrative sections of the ops manual or in a separate document called the Emergency Response Plan (ERP). The ERP may be a standalone document or attached to the corporation's ERP if one exists. For example, how the corporation manages a crisis should be addressed in detail, whether the crisis is an aircraft accident or a nonaviation event affecting the Flight Department such as the destruction of facilities due to fire or an act of nature.

Some crisis issues are the responsibility of the flight department, while others such as informing and caring for victims of a mishap or tragedy are best addressed by the corporation’s HR department or possibly by the office of the CEO. In all situations involving Business Aviation, communications and possibly coordination between other business units within the corporation will be needed. The place to specify those procedures is the ops manual or ERP. When a crisis happens, only the resources in place are useful. Just as with operating an aircraft, personnel must know what to do before they must respond. Crisis time is no time for ad hoc actions.

Operations and Maintenance

Detailed procedures for each segment of flight, from passenger manifest and dispatch to post flight inspection and documentation, must be covered. In addition to basic operations (e.g., airworthiness status, flight plan preparation, operational reports, etc.), the ops manual should address expectations above and beyond the department’s FAA classification.

While FAR Part 91 allows operators of private aircraft to comply with standards less restrictive  www.AVBUYER.com

Fred Haap is an ISBAO accredited auditor and past Chairman of NBAA. During his distinguished career in aviation, Mr. Haap also spent nearly 30 years as a corporate aviation department manager & pilot, logging more than 13,000 flight hours in a variety of aircraft.

Contact him via fhaap3@aol.com

“Just as professional aviators are schooled in proper techniques and embrace best practices, well run Flight Departments follow a culture of planning and explicit execution.”

October 2015 – AVBUYER MAGAZINE

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Management 1 Oct15 .qxp_Finance 22/09/2015 15:47 Page 3

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FLIGHT DEPARTMENT T MANAGEMENT than Part 135 used by charter providers, each Flight Department may elect to follow more stringent limitations up to and possibly exceeding those which are allowed for commercial operations.

The place to specify such standards is the ops manual.

Those aspects of contingency planning that directly involve flight, such as dealing with an unruly passenger, a hijacker, or a terrorist are also best addressed in the operations section of the ops manual.

By positioning the right person in the right place at the right time, a Flight Department contributes uniquely to the success of the company it serves. A means for capturing those elements of success, including a metric for valuing such efficiency, is warranted. The place to establish such a reporting protocol and measure of value and efficiency is within the ops manual (see David Wyndham’s article ‘MOVE’, page 64).

Maintenance policy and procedures should be fully described in a third section of the ops manual.

Too often the Business Aviation community fails to articulate the pivotal role that maintenance plays in the success of a Flight Department.

Costs can quickly escalate when a business aircraft is poorly maintained, and safety obviously will 90

AVBUYER MAGAZINE – October 2015

be affected by maintenance neglect or inadequacies. The ops manual must specify how the company’s aviation assets will be kept in safe and economically viable order, whether by maintenance done in-house, via contract services, or by an outside vendor (or some combination of those options).

Customization Required

The NBAA Management Guide contains an excellent outline of what should be included in the Flight Department’s operations manual, and the Association conducts frequent workshops describing how such manuals should be prepared. But each department is different; each has its own requirements that must be met to satisfy the needs of the company it serves. Thus there is no single template or computer program that will generate the best document for all operations.

Each Flight Department must tailor its ops manual to address its specific role within the company and the unique circumstance surrounding its flight operation. T

“...there is no single template or computer program that will generate the best document for all operations.”

Are you looking for more articles on Flight Department Management? Visit www.avbuyer.com/articles/ flight-department-management/

www.AVBUYER.com

Aircraft Index see Page 145

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FLIGHT DEPARTMENT T MANAGEMENT

Does Bigger Assure Better?

A Tribute to Flight Department Excellence, Large and Small Pete Agur concludes his two-part perspective of what size organization best suits the professional aviator.

I Peter Agur is Chairman & Founder of VanAllen - a leading Business Aviation consultancy firm. He is a member of the Flight Safety Foundation’s Advisory Committee, NBAA’s Safety Committee and NBAA’s CAM Committee (emeritus). Contact him via pagur@vanallen.com.

92

n the context of Business Aviation, ‘bigger’ does not guarantee ‘better’. In fact, excellence can be found, or not, regardless of the size of the organization or weight of the aircraft. No matter the size, the differentiating element between ‘substandard’ and ‘excellence’ is Leadership. The careers of Syd and George illustrate my point.

Syd was a highly decorated military aviator who transitioned to corporate pilot for a Fortune 10 company. Over the years, he worked his way up to the position of Director of Aviation of a multi-aircraft, international Flight Department for a household name company.

George climbed the other ladder. He started as a civilian flight instructor and transitioned into the Business Aviation ranks. Through hard work and innate aptitude, by his mid-thirties he became the chief pilot for a single jet operation. Both of these gentlemen left a legacy of excellence. There are a

AVBUYER MAGAZINE – October 2015

www.AVBUYER.com

number of similarities and a few key differences in their approaches to success on behalf of their owners.

Size Does Matter

It is easier to be ‘better’ when you have the backing of a very large company. The infrastructure is there. Whether you use those resources to help your Business Aviation function is a matter of choice, strategically and operationally.

Syd inserted himself into his reporting executive’s staff meetings early on. He watched and listened to see how things were done by his peers.

He emulated their tactics to gain access to the resources he needed; HR, legal, accounting, IT, purchasing, and on, and on. He knew he could not do it all himself. He became the ring master of his flying circus.

George and his crew flew Miss Daisy, a wealthy widow. The entire ‘organization’ was Miss Daisy Aircraft Index see Page 145



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FLIGHT DEPARTMENT T MANAGEMENT

were remarkably similar. Why not? They both sought to achieve operational and organizational best practices.

However, that does not mean all aircraft encounter the same risks and hazards. A good argument could be made that smaller aircraft operations are higher risk. Potential contributing factors include that they typically fly at lower altitudes where the weather is harder to avoid. They also tend to operate into shorter runways with smaller margins for error or mishap. But, the biggest potential risk occurs because they often are crewed by less experienced aviators who are early in their career climb.

Those ‘smaller aircraft’ risks can be mitigated.

One large company intended to operate a single mid-sized jet. The CEO was committed to keeping the best and brightest team of aviation professionals. He understood his crews would be tempted by the higher pay of larger jets. So, he paid them on the same scale as larger jets and established policies that created great quality of life conditions for the flight team. As a result, the primary source of turnover in this department over the past 30 years has been retirement.

The trick to mitigating endemic risks in the operation of aircraft large or small is to identify those risks and address them systematically and effectively.

In Closing

“There is no direct correlation between aircraft size and the quality of the operation.”

94

and her family office. The family office staff consisted of three people plus the aviation services team of five (George, two other captains, the cabin attendant and their technician). Like Syd, George integrated himself into HQ: the family office.

The lack of staff capacity meant that George had to create a virtual support organization. So, he developed retainer relationships to fill the functions he could outsource (legal, accounting and IT) while he honed his team’s capabilities to share the remaining load.

Both Syd and George successfully integrated and aligned their aviation services with their parent organizations. Each did it in the way that was most effective and appreciated in their circumstances.

Aircraft Size

There is no direct correlation between aircraft size and the quality of the operation. Eighty percent of aviation accidents are sourced in human error; intentional and unintentional. Stupid pilot tricks happen with equal ease among all categories of aircraft.

The flight operations policies, standards and practices used by Syd’s and George’s operations

AVBUYER MAGAZINE – October 2015

www.AVBUYER.com

Is service excellence easier to achieve in a small operation? The intimacy of the group makes it easier to communicate and coordinate because the dynamics are much less complex. However, there is no excuse for the level and quality of customer service being anything less than outstanding regardless of size. If a hotel company as large as The Four Seasons can do it, any Flight Department also can.

How does size impact efficiency? The economics of Business Aviation are clear. Bigger costs more.

More capital investment, more fixed costs and more variable expenses. But efficiency is relative.

Can a small department save its owner the same proportionate dollars as a large one? Why not?

Would a small department’s owner appreciate significant savings as much as a large company would? Probably even more so because aviation services are likely to be a larger part of the total budget.

For a big operation to excel it takes a business unit leader who orchestrates well within the major organization. For a small department it takes an entrepreneurial leader who is adept at coordinating supplemental resources.

‘Bigger’ does not assure ‘Better’. Effective visionary leadership does. T Are you looking for more articles on Flight Department Management? Visit www.avbuyer.com/articles/ flight-department-management/

Aircraft Index see Page 145

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FLIGHT DEPARTMENT T SAFETY

Are You Ready for PBN? (Part 2)

The concept of Performance Based Navigation (PBN) gains traction with more PBN procedures being published worldwide. Mario Pierobon introduces the variety of PBN specifications available and describes the benefits to Business Aviation.

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www.AVBUYER.com

Aircraft Index see Page 145

Safety 1 Oct15.qxp_Finance 21/09/2015 15:34 Page 2

L

ast month we clarified that Performance Based Navigation (PBN) specifications are articulated in two main categories: RNAV (area navigation) and RNP (required navigation performance), and established that RNP has the additional requirement for onboard performance monitoring and alerting. By looking at availability of navigation specifications under both the RNAV and RNP categories, it is possible to appreciate how the PBN concept, and its inherent operational flexibility, is available for all phases of flight operations.

Per the latest version of the ICAO PBN Manual (dated early 2013), there are 11 navigation specifications: four of these apply to RNAV and seven apply to RNP. Documented in Volume II of the PBN Manual, each of these specifications is roughly 20 pages in length and contains core and contextual material.

Core material relating to the navigation specification includes descriptions as to the performance (accuracy, integrity and continuity) required from the RNAV system, the functionalities needed to meet the requirements of the navigation application, the approval process, aircraft eligibility and operational approval.

“The PBN concept suggests that RNAV specifications are effectively legacy specifications and that no new RNAV specifications will be developed,” notes Eurocontrol. “Indeed, PBN’s sights are firmly set on RNP which relies primarily on the use of satellite technologies. This explains why all the new navigation specifications in the 2013 update to the PBN Manual are RNP specifications.”

The table presented (left) offers an overview of the navigation specs included in ICAO’s PBN Manual. The numbers reported refer to the lateral total system error and the along-track error, which must be (for example) within ±10 NM for at least 95% of the total flight time for RNAV 10 situations.

The content of the navigation specifications is normally reported in its entirety in advisory circulars (ACs) issued by the US FAA and acceptable means of compliance (AMCs) issued by EASA. These documents establish what operators must do to comply with the specified PBN airworthiness, operational and training requirements.

advantage of having your own aircraft and being able to land at thousands of airports in the US alone. The flexibility is clear.

“If [business jets] have a navigation system capable of receiving satellite-based augmentation (SBAS), operators can use the SBAS-capable GPS to meet very precise navigational accuracy independent of ground based systems.”

Augmentation is a method of improving the onboard navigation system’s accuracy, reliability and availability, through the integration of external information into the internal calculation process.

Examples of regional SBAS are the wide area augmentation system (WAAS), which is operational in the USA and Canada, and the European geostationary navigation overlay system (EGNOS), within Europe.

“This essentially means you can have all sorts of approaches at any remote airport and perform approaches where there are no ground facilities,” notes Martineau. “As you can imagine, this is of great advantage to business aircraft as many small airports are now publishing approaches without the need for ground facilities.

“It also significantly reduces operational cost by allowing operations at remote airports at low minima; reduces the environmental impact of aircraft (jet) operation; and increases the usefulness of business aircraft generally.”

With an increasing availability of PBN procedures at smaller airports, which typically lack extensive ground-based approach facilities, the benefits of upgrading to PBN capability is obvious.

Next month we conclude this three-part series by clarifying technical, operational and training requirements to meet the PBN standards applicable to business aircraft operations. T

Mario Pierobon is a safety management consultant and content producer. He currently is working on a research project investigating aircraft ground handling safety. Contact him via marioprbn@gmail.com

Application to BizAv?

Business Aviation operators should pay the most attention to PBN navigation specifications applicable to the approach phase of flight.

“Business aircraft tend to operate away from big airports normally used by the airlines,” notes Captain Marcel Martineau, a flight operations consultant with whom we spoke. “This is the Advertising Enquiries see Page 4

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October 2015 – AVBUYER MAGAZINE

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Values Intro June.qxp_Finance 23/09/2015 16:06 Page 1

FLIGHT DEPARTMENT RETAIL PRICE GUIDE

Medium Jets:

Just the Right Fit for Many Operators...

Of all the business jet categories, none does more to

balance capability with utility than the Medium Jet segment; and no segment provides more options, either.

or the purpose of our Retail Price Guide, Medium Jets are loosely defined as aircraft with a Maximum Take-Off Weight between 20,001-40,000 lbs.

There’s no disputing the advantages of space as you step into a Medium Jet cabin, particularly when applied to longer trips. That is ultimately where the Medium Jets’ basic advantage comes into play over the Light Jet segment.

Medium Jets tend to cruise towards the upperend of the private jet speed range (between Mach 0.78 and Mach 0.85). While on average faster than the Light Jet, a Medium Jet’s superior speed generally provides only a few minutes of gain on the typical Business Aviation trip of 350 to 500 miles, but the difference will become noticeable on longer legs exceeding 1,000 miles.

In terms of range, the average Medium Jet can reach most of the US non-stop from almost anywhere else within the US, making them excellent candidates for the operator with regular transcontinental travel needs. That range capability also gives the crew the flexibility to string together a sequence of stops that total the same distance – making it possible for a Medium Jet to cover multiple locations and still get home at the days’ end, without buying fuel along the way.

Runway requirements for Medium Jets are generally longer than the average length needed by a Light Jet – but nevertheless Medium Jets can still access a significant percentage of the secondary airports serving most of the 150 largest metropolitan areas in the US. Indeed, Medium Jets generally can match their Large Cabin kin in terms of speed and, to a point, their range, while providing reasonable office amenities that are competitive with most larger aircraft. With all of the above considered, it is little wonder that the Medium Jet segment is the biggest selling, deepest segment across the business aircraft market.

F

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AVBUYER MAGAZINE – October 2015

Medium Jet Price Guide The following Medium Jets Retail Price Guide represents current values published in the Aircraft Bluebook – Price Digest. The study spans model years from 1996 through Fall 2015. Values reported are in USD millions, with each reporting point representing the current average retail value as published in the Bluebook by its corresponding calendar year. For example, the Hawker 800XP values reported in the Fall 2015 edition of Bluebook shows $3.3 million for a 2004 model, $2.8 million for a 2003 model and so forth. Aircraft are listed alphabetically.

Note: We have included 30 aircraft models in the following Medium Jets average price guide, and for additional assistance, Conklin & de Decker’s Performance and Specifications data for these models can be referred to, beginning on page 102.

www.AVBUYER.com

 Aircraft Index see Page 145

Jeteffect Inventory September.qxp 22/09/2015 14:42 Page 1

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Year

Model

Serial No.

1991

Challenger 601-3A/ER

5086

2000

Challenger 604

5431

2008

Challenger 605

5754

1996

Citation X

750-0011

2006

Global 5000

9176

1987

Gulfstream GIV

1008

2002

Gulfstream GIVSP

1495

1999

Gulfstream GV

576

2009

Gulfstream G150

255

2010

Gulfstream G450

4188

2010

Gulfstream G550

5255

1998

Learjet 31A

165

2005

Learjet 40XR

45-2028

2000

Learjet 45

079

2005

Learjet 45XR

282

2001

Learjet 60

229

2007

Learjet 60XR

320

2011

Phenom 100

50000223

2015

Phenom 300

50500216

2010

Bell 427

56080

Retail Values.qxp_RPG 22/09/2015 12:05 Page 1

FLIGHT DEPARTMENT T RETAIL PRICE GUIDE

Medium Jets Average Retail Price Guide YEAR OF MANUFACTURE $ MODEL

2015 US$M

BOMBARDIER CHALLENGER 300

2014 US$M

2013 US$M

2012 US$M

2011 US$M

2010 US$M

2009 US$M

2008 US$M

2007 US$M

2006 US$M

19.0

17.0

16.0

15.0

14.0

13.0

12.0

11.0

10.5

6.7

6.2

5.6

5.0

4.6

4.4

4.0

BOMBARDIER LEARJET 60XR BOMBARDIER LEARJET 60SE

4.0

3.4

4.4

4.0

4.0

3.7

3.2

2.8

3.0

2.6

BOMBARDIER LEARJET 60 BOMBARDIER LEARJET 45XR

7.0

6.5

6.0

5.5

5.0

BOMBARDIER LEARJET 45 BOMBARDIER LEARJET 40XR

5.5

5.0

4.4

3.7

3.4

BOMBARDIER LEARJET 40 CESSNA CITATION X+ 750

23.745

17.0

CESSNA CITATION X 750

14.0

13.0

12.0

10.5

8.8

7.8

7.1

13.0

12.0

11.0

10.0

9.0

8.0

7.5

7.0

8.5

8.0

7.5

7.0

6.5

6.0

5.8

5.0

4.8

4.5

7.1

6.7

CESSNA CITATION V11650 CESSNA CITATION SOVEREIGN+680

18.370

16.0

CESSNA CITATION SOVEREIGN 680 CESSNA CITATION XLS+ 560

13.165

10.5

14.0

CESSNA CITATION XLS 560 CESSNA CITATION EXCEL 560 DASSAULT FALCON 50EX DASSAULT FALCON 50 GULFSTREAM G280

24.5

24.0

23.0

22.0

GULFSTREAM G200 GULFSTREAM G150

15.7

13.5

11.0

9.3

9.8

9.3

8.8

8.3

7.8

7.3

7.3

6.8

6.3

5.8

5.3

4.8

GULFSTREAM G100

3.8

GULFSTREAM/ ASTRA 1125 SPX HAWKER 4000

6.0

5.8

5.4

5.2

5.0

8.5

7.0

6.5

6.0

5.5

4.8

4.4

4.0

3.5

HAWKER 1000 HAWKER 900XP HAWKER 850XP PRO LINE

4.2

3.9

HAWKER 800XP/i PRO LINE HAWKER 800XP HAWKER 750

5.3

4.6

AIRCRAFT BLUEBOOK DATA - CARL JANSSENS, EDITOR. EMAIL: CARL@JETAPPRAISALS.COM

100

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Aircraft Index see Page 145

Retail Values.qxp_RPG 22/09/2015 12:05 Page 2

RETAIL PRICE GUIDE T FLIGHT DEPARTMENT

What your money buys today

FALL 2015 2005 US$M

2004 US$M

2003 US$M

10.0

9.5

9.25

2002 US$M

2001 US$M

2000 US$M

1999 US$M

1998 US$M

1997 US$M

1996 US$M

YEAR OF MANUFACTURE $ MODEL BOMBARDIER CHALLENGER 300 BOMBARDIER LEARJET 60XR

2.9

2.6

BOMBARDIER LEARJET 60SE 2.4

3.6

3.5

3.2

3.4

3.2

2.8

2.3

2.2

2.1

2.0

1.9

1.8

1.7

BOMBARDIER LEARJET45XR 2.6

2.5

2.4

2.3

2.2

BOMBARDIER LEARJET 45

2.4 2.2

BOMBARDIER LEARJET 60

BOMBARDIER LEARJET 40XR 2.0

BOMBARDIER LEARJET 40 CESSNA NEW CITATION X+ 750

6.2

5.7

5.2

4.9

4.6

4.3

4.1

3.7

3.4

3.2

2.650

2.450

2.350

2.250

2.050

CESSNA CITATION X 750 CESSNA CITATION V11 650 CESSNA CITATION SOVEREIGN+ 680

6.5

6.0

CESSNA CITATION SOVEREIGN 680 CESSNA CITATION XLS+560

3.9

6.2

3.7

CESSNA CITATION XLS 560

3.6

3.5

3.4

3.2

2.9

2.7

2.5

5.9

5.5

5.1

4.8

4.5

4.2

3.8

CESSNA CITATION EXCEL560 3.5

DASSAULT FALCON 50EX 2.8

DASSAULT FALCON 50 GULFSTREAM G280

6.8

6.3

5.8

5.3

4.8

4.3

3.8

GULFSTREAM G200 GULFSTREAM G150

3.4

3.2

3.0

2.8

2.6 2.6

GULFSTREAM G100 2.3

2.2

2.1

2.0

1.9

GULFSTREAM/ ASTRA 1125 SPX HAWKER 4000

2.2

HAWKER 1000 HAWKER 900XP HAWKER 850XP PRO LINE

3.5

HAWKER 800XP PRO LINE 3.3

2.8

2.5

2.4

2.3

2.2

2.1

2.0

1.9

HAWKER 800XP HAWKER 750

AIRCRAFT BLUEBOOK DATA - CARL JANSSENS, EDITOR. EMAIL: CARL@JETAPPRAISALS.COM Advertising Enquiries see Page 4

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October 2015 – AVBUYER MAGAZINE

101

ACSpecs IntroOct15.qxp_AC Specs Intronov06 22/09/2015 16:15 Page 1

FLIGHT DEPARTMENT T SPECIFICATIONS

Aircraft Performance & Specifications Medium Jets

T

he AvBuyer Magazine Guide to Aircraft Performance and Technical Specification Data is updated by Conklin & de Decker on a regular basis. The Guide is much more comprehensive and informative, providing more aircraft types and models and including variable cost numbers for all models.

This month’s category of aircraft - Medium Jets – appears overleaf, to be followed by Small & Entry Level Jets next month.

Please note that this data should be used as a guide only, and not as the basis on which buying decisions are taken. The data presents aircraft aged below 20 years of age only, but Conklin & de Decker provides details of older airplanes too.

If there are any other ways in which we can improve the content or presentation of this information, please let us know.

Tel: +44 (0) 20 8391 6770; Email: editorial@avbuyer.com. © 2011 Conklin & de Decker Associates, Inc., P.O. Box 1142, Orleans, Massachusetts, 02653, Tel. 508-255-5975, www.conklindd.com

Description of Cost Elements The following describes the content of each cost element used in The Aircraft Cost Evaluator. There are no sales taxes included in these costs.

VARIABLE COST PER HOUR Includes fuel, maintenance reserves for routine maintenance, engine/ propeller/APU reserves, and miscellaneous expenses.

Specifications - General CABIN DIMENSIONS Cabin Height, Width, and Length are based on a completed interior.

On “cabin-class” aircraft, the length is measured from the cockpit divider to the aft pressure bulkhead (or aft cabin bulkhead if unpressurized). For small cabin aircraft, the distance is from the cockpit firewall to the aft bulkhead.

Height and width are the maximum within that

cabin space. Cabin Volume is the interior volume, with headliner in place, without chairs or other furnishings. Cabin Door Height and Width are the measurements of the main passenger cabin entry door.

BAGGAGE Internal baggage volume is the baggage volume that is accessible in flight by the passenger. This amount may vary with the interior layout. External baggage volume is the baggage volume not accessible in flight (nacelle lockers, etc.).

CREW SEATS/SEATS EXECUTIVE This is the typical crew and passenger seating commonly used on the aircraft. This is not the maximum certificated seats of the aircraft. These numbers may vary for different operations (Corporate, Commercial, EMS, etc.).

Weights: • Maximum Take-Off Weight and Maximum Landing Weight are specified during aircraft certification.

• Basic Operating Weight is the empty weight, typically equipped, plus unusable fuel and liquids, flight crew @ 200 pounds each and their supplies.

• Useable fuel is the useable fuel in gallons x 6.7 pounds per gallon (Jet fuel) or 6 pounds per gallon (AVGAS).

• Payload with Full Fuel is the useful load minus the useable fuel. The useful load is based on the maximum ramp weight minus the basic operating weight.

• Maximum Payload is the maximum zero fuel weight minus the basic operating weight.

Specifications Performance Range: • Range - Seats Full is the maximum IFR range of the aircraft with all passenger seats occupied. This uses the NBAA IFR alternate fuel reserve calculation for a 200 N.Mi. alternate. This is used for jet and turboprop aircraft.

• Ferry Range - is the maximum IFR range of the aircraft with the maximum fuel on board and no passenger seats occupied.

This uses the NBAA IFR alternate fuel reserve calculation for a 200 N.Mi. alternate. This is used for jet and turboprop aircraft.

• VFR Range - Seats Full is the maximum

•

VFR range of the aircraft with all passenger seats occupied. This is used for all helicopters and piston fixed-wing aircraft.

VFR Ferry Range - is the maximum VFR range of the aircraft with the maximum fuel on board and no passenger seats occupied. This is used for all helicopters and piston fixed-wing aircraft.

Balanced Field Length BFL is the distance obtained by determining the decision speed (V1) at which the take-off distance and the accelerate-stop distance are equal (fixed-wing multi-engine aircraft only).

This is based on four passengers and maximum fuel on board (turbine aircraft). For single-engine and all piston fixed-wing aircraft, this distance represents the take-off field length at Maximum Take-off Weight (MTOW).

Landing Distance (Factored) For fixed-wing turbine aircraft, landing distance is computed using FAR 121 criteria. This takes the landing distance from 50/35 feet (depends on certification criteria) and multiplies that by a factor of 1.667. No credit is given for thrust reversers. Configuration is with four passengers and NBAA IFR Fuel Reserve on board. For fixed-wing piston aircraft, this figure is the landing distance over a 50 foot obstacle.

Rate of Climb (Ft/Min) The rate of climb, given in feet per minute, is for all engines operating, at MTOW, ISA conditions. One Engine Out rate of climb is for one engine inoperative rate of climb at MTOW, ISA. Cruise Speed (Knots True Air Speed - KTAS) Max Cruise Speed - is the maximum cruise speed at maximum continuous power. This may also be commonly referred to as High Speed Cruise. Normal cruise speed is the recommended cruise speed established by the manufacturer. This speed may also be the same as Maximum Cruise Speed. Long Range Cruise is the manufacturer’s recommended cruise speed for maximum range.

Engines The number of engines, manufacturer and model are shown. continued on page 104

102

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Aircraft Index see Page 145



J Hopkinson 1 October.qxp 21/09/2015 15:30 Page 1

Tel: (403) 291 9027 Fax: (403) 637 2153 sales@hopkinsonassociates.com www.hopkinsonassociates.com

follow us on twitter@HopkinsonAssoc

Challenger 300 2,296 AFTT 1,142 Cycles Proline 21 Avionics Package Executive 6 PAX Configuration

Lear 40 5,248 AFTT. Engines on MSP Gold Honeywell Primus 1000 System 6 PAX Executive Configuration

Falcon 50 13,634 hrs, Engines on MSP Gold, Collins Pro-Line 4, Dual Honeywell Laser Ref III, Magnastar Airphone C-2000, Airshow 400, MGTW Increase, 8 Passenger Seating, APU on MSP

BAE Jetstream 31 Three (3) available! 16-19 PAX configurations available. Weather Radar. Garmin GPS 400.

Skywatch (TCAS I)

Gulfstream Astra SP 7143 AFTT, Engines on MSP, TCAS II, EGPWS, GNS XLS FMS, RVSM and VIP Configuration with 6 pax

John Hopkinson & Associates Ltd. 1441 Aviation Park NE, 2nd Floor, Box 560, Calgary, Alberta, T2E 8M7

AircraftPer&SpecOct15 2.qxp_PerfspecDecember06 23/09/2015 16:08 Page 1

LEA RJET 40X R BOM BAR DIER

MEDIUM JETS

BEE CHC RAF T HA WKE R 75 0 BEE CHC RAF T HA WKE R 80 0XP BEE CHC RAF T HA WKE R 80 0XP I BEE CHC RAF T HA WKE R 80 0XP R BEE CHC RAF T HA WKE R 85 0XP BEE CHC RAF T HA WKE R 90 0XP BEE CHC RAF T HA WKE R 40 00 BOM BAR DIER LEA RJET 40

FLIGHT DEPARTMENT T SPECIFICATIONS

$2,877.38

$2,935.09

$2,924.57

$2,586.03

$2,937.44

$2,656.00

$3,411.46

$2,185.18

$2,234.47

CABIN HEIGHT FT.

5.75

5.75

5.75

5.75

5.75

5.75

6

4.92

4.92

CABIN WIDTH FT.

6

6

6

6

6

6

6.46

5.12

5.12

CABIN LENGTH FT.

21.3

21.3

21.3

21.3

21.3

21.3

25

17.67

17.67

CABIN VOLUME CU.FT.

551

551

551

551

551

551

746

369

369

DOOR HEIGHT FT.

4.3

4.3

4.3

4.3

4.3

4.3

6

4.8

4.8

DOOR WIDTH FT.

2.25

2.25

2.25

2.25

2.25

2.25

2.5

2.5

2.5

BAGGAGE VOL. INT. CU.FT.

47

48

49

50

50

50

114

15

15

BAGGAGE VOL. EXT. CU.FT.

32

-

-

-

-

-

-

50

50

CREW #

2

2

2

2

2

2

2

2

2

SEATS - EXECUTIVE #

8

8

8

8

8

8

8

6

6

MTOW LBS

27000

28000

28000

28000

28000

28000

39500

20350

21000

MLW LBS

23350

23350

23350

23350

23350

23350

33500

19200

19200

B.O.W. W/CREW LBS

16250

16250

16250

16500

16330

16500

23700

13718

13949

USEABLE FUEL LBS

8500

10000

10000

10000

10000

10000

14600

5375

6062

PAYLOAD WITH FULL FUEL LBS

2200

1750

1750

1620

1790

1620

1400

1507

1239

MAX. PAYLOAD LBS

2200

2050

2050

1950

2120

1950

2300

2282

2051

RANGE - SEATS FULL N.M.

2050

2470

2470

2733

2525

2733

3283

1573

1778

MAX. RANGE N.M.

2200

2620

2620

2929

2710

2929

3100

1707

1960

BALANCED FIELD LENGTH FT.

4900

5640

5640

5258

5641

5258

5459

4330

4680

LANDING DIST. (FACTORED) FT.

3803

3803

3803

3805

3810

3805

4373

4033

4060

R.O.C. - ALL ENGINES FT PER MIN

3500

3415

3415

3415

3415

3415

-

2820

2820

R.O.C. - ONE ENGINE OUT FT PER MIN

530

470

470

570

470

570

880

710

394

MAX. CRUISE SPEED KTAS

447

449

449

452

452

452

489

465

465

NORMAL CRUISE SPEED KTAS

430

430

430

430

430

430

470

436

436

L/RANGE CRUISE SPEED KTAS

402

402

402

402

402

402

447

428

432

2

2

2

2

2

2

2

2

2

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

TFE 731-5BR TFE 731-5BR TFE 731-5BR

TFE 731-50R

TFE 731-5BR TFE 731-50R

PW308A

TFE 731-20AR TFE 731-20BR

Airplane performance and specification numbers can vary depending on how they are measured. Please note this data should be used as a guide only, and not the basis on which buying decisions are taken.

104

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Aircraft Index see Page 145



Southern Cross October.qxp_Layout 1 21/09/2015 17:07 Page 1

AircraftPer&SpecOct15 2.qxp_PerfspecDecember06 23/09/2015 16:10 Page 2

BOM BAR DIER

BOM BAR DIER

CHA LLEN GER 350

CHA LLEN GER 300

LEA RJET 75 BOM BAR DIER

$2,223.41

$2,301.13

$2,519.15

$2,397.17

$2,137.82

$2,144.08

$3,113.42

$3,095.91

CABIN HEIGHT FT.

4.92

4.92

5.71

5.71

4.92

4.92

6.08

6.08

CABIN WIDTH FT.

5.12

5.12

5.92

5.92

5.12

5.12

7.17

7.17

CABIN LENGTH FT.

19.75

19.75

17.67

17.67

17.67

19.75

23.7

23.7

CABIN VOLUME CU.FT.

415

415

447

447

369

415

930

930

DOOR HEIGHT FT.

4.8

4.8

5.3

5.3

4.8

4.8

6.22

6.22

DOOR WIDTH FT.

2.5

2.5

2

2

2.5

2.5

2.5

2.5

BAGGAGE VOL. INT. CU.FT.

15

15

24

24

15

15

106

106

BAGGAGE VOL. EXT. CU.FT.

50

50

24

24

50

50

-

-

CREW #

2

2

2

2

2

2

2

2

SEATS - EXECUTIVE #

8

8

7

7

6

8

8

8

MTOW LBS

20500

21500

23500

23500

21500

21500

38850

40600

MLW LBS

19200

19200

19500

19500

19200

19200

33750

34150

B.O.W. W/CREW LBS

13890

14125

14772

14896

13715

13890

23850

24800

USEABLE FUEL LBS

6062

6062

7910

7910

6062

6062

14045

14150

PAYLOAD WITH FULL FUEL LBS

798

1563

1068

944

1973

1798

1105

1800

MAX. PAYLOAD LBS

2110

1875

2228

2104

2285

2110

3350

3400

RANGE - SEATS FULL N.M.

1423

1685

2186

2044

1849

1805

3065

3200

MAX. RANGE N.M.

1968

1937

2418

2398

2000

1998

3340

3600

BALANCED FIELD LENGTH FT.

4350

5040

5450

5450

4230

4440

4810

4853

LANDING DIST. (FACTORED) FT.

4063

4105

5208

5317

3917

3917

3833

3850

R.O.C. - ALL ENGINES FT PER MIN

2800

2630

4500

4500

-

-

4240

-

R.O.C. - ONE ENGINE OUT FT PER MIN

590

589

714

718

-

-

474

-

MAX. CRUISE SPEED KTAS

465

465

465

465

465

465

470

470

NORMAL CRUISE SPEED KTAS

436

436

436

436

436

436

459

459

L/RANGE CRUISE SPEED KTAS

416

432

423

423

432

432

459

459

2

2

2

2

2

2

2

2

TFE 731-20AR

TFE 731-20BR

PW305A

PW305A

TFE 731-40BR

TFE 731-40BR

HTF 7000

HTF 7350

MEDIUM JETS VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

BOM BAR DIER

BOM BAR DIER

LEA RJET 70

LEA RJET 60X R

LEA RJET 60

BOM BAR DIER

BOM BAR DIER

BOM BAR DIER

LEA RJET 45

LEA RJET 45X R

FLIGHT DEPARTMENT T SPECIFICATIONS

Airplane performance and specification numbers can vary depending on how they are measured. Please note this data should be used as a guide only, and not the basis on which buying decisions are taken.

106

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Aircraft Index see Page 145



P107.qxp_Heeren Cit Ultra sep 24/09/2015 13:57 Page 1

LEKTRO

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LEKTRO .com

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Advertising Enquiries see Page 4

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AircraftPer&SpecOct15 2.qxp_PerfspecDecember06 22/09/2015 16:39 Page 3

CES SNA CITA TION X+

CES SNA CITA TION SOV ERE IGN CES SNA CITA TION SOV ERE IGN + CES SNA CITA TION X

CES SNA CITA TION LATI TUD E

CES SNA CITA TION XLS +

CES SNA CITA TION XLS

MEDIUM JETS

CES SNA CITA TION EXC EL

FLIGHT DEPARTMENT T SPECIFICATIONS

$2,418.85

$2,345.30

$2,305.60

$3,236.85

$2,795.26

$2,703.87

$3,694.04

$3,762.08

CABIN HEIGHT FT.

5.7

5.7

5.7

6

5.7

5.7

5.7

5.7

CABIN WIDTH FT.

5.5

5.5

5.5

6.42

5.5

5.5

5.5

5.5

CABIN LENGTH FT.

18.5

18.5

18.5

28.08

25.25

25.25

23.92

25.2

CABIN VOLUME CU.FT.

422

422

422

-

571

585

538

538

DOOR HEIGHT FT.

4.54

4.5

4.5

-

4.58

4.58

4.5

4.5

DOOR WIDTH FT.

2

2

2

-

2.5

2.5

2.1

2.1

BAGGAGE VOL. INT. CU.FT.

10

10

10

-

35

35

-

-

BAGGAGE VOL. EXT. CU.FT.

80

80

80

-

100

100

82

82

CREW #

2

2

2

2

2

2

2

2

SEATS - EXECUTIVE #

7

8

8

9

9

9

8

8

MTOW LBS

20000

20200

20200

-

30300

30755

36100

36600

MLW LBS

18700

18700

18700

-

27100

27575

31800

32000

B.O.W. W/CREW LBS

12500

12800

12800

-

18150

18510

22025

22464

USEABLE FUEL LBS

6740

6740

6740

-

11223

11390

12931

12931

PAYLOAD WITH FULL FUEL LBS

960

860

860

-

1177

1125

1444

1505

MAX. PAYLOAD LBS

2500

2300

2300

-

2650

2490

2375

2514

RANGE - SEATS FULL N.M.

1449

1539

1528

-

2620

2773

2890

3229

MAX. RANGE N.M.

1839

1989

1976

-

3010

3163

3125

3380

BALANCED FIELD LENGTH FT.

4060

3910

3910

4030

3810

3650

5480

5320

LANDING DIST. (FACTORED) FT.

4917

4738

4738

-

3867

3725

4693

4702

R.O.C. - ALL ENGINES FT PER MIN

3790

3500

3500

-

4016

-

3650

3650

R.O.C. - ONE ENGINE OUT FT PER MIN

699

800

800

-

1237

-

1120

1120

MAX. CRUISE SPEED KTAS

433

433

440

-

459

459

525

527

NORMAL CRUISE SPEED KTAS

433

433

440

-

459

459

525

527

L/RANGE CRUISE SPEED KTAS

373

373

373

-

388

-

470

470

2

2

2

2

2

2

2

2

PW545A

PW545B

PW545C

PW306D

PW306C

PW306D

AE 3007C1

AE 3007C2

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

Airplane performance and specification numbers can vary depending on how they are measured. Please note this data should be used as a guide only, and not the basis on which buying decisions are taken.

108

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

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AircraftPer&SpecOct15 2.qxp_PerfspecDecember06 22/09/2015 16:40 Page 4

GUL FSTR EAM

IAI A STR A SP

G28 0

G15 0 GUL FSTR EAM

G10 0 GUL FSTR EAM

EMB RAE R LE GAC Y 50 0

DAS SAU LT F ALC ON 50E X

DAS SAU LT F ALC ON 50

CES SNA CITA TION VII

FLIGHT DEPARTMENT T SPECIFICATIONS

$3,207.64

$4,232.03

$3,744.57

$2,901.99

$2,505.40

$2,329.37

$3,128.98

$2,652.26

CABIN HEIGHT FT.

5.7

5.8

5.9

6

5.6

5.75

6.25

5.6

CABIN WIDTH FT.

5.5

6.1

6.1

6.83

4.75

5.75

7.2

4.75

CABIN LENGTH FT.

18.4

23.5

23.5

27.5

17.1

17.7

32.25

17.1

CABIN VOLUME CU.FT.

422

569

569

826

215

521

888

304

DOOR HEIGHT FT.

5

5

5

5.22

4.3

4.33

6

4.3

DOOR WIDTH FT.

2

2.6

2.6

1.91

2.08

2.1

2.75

2.08

BAGGAGE VOL. INT. CU.FT.

-

25

25

45

9

25

34

9

BAGGAGE VOL. EXT. CU.FT.

54

90

90

110

55

55

120

55

CREW #

2

2

2

2

2

2

2

2

SEATS - EXECUTIVE #

7

9

9

8

7

7

8

7

MTOW LBS

23000

38320

39700

37919

24650

26100

39600

24650

MLW LBS

20000

35715

35715

34127

20700

21700

32700

20700

B.O.W. W/CREW LBS

14250

22000

22250

23437

14365

15100

24150

13400

USEABLE FUEL LBS

7330

15520

15520

13058

9365

10300

14600

9345

PAYLOAD WITH FULL FUEL LBS

1620

1280

2130

1600

920

850

1000

2055

MAX. PAYLOAD LBS

2250

3570

3320

2800

2635

2400

4050

3600

RANGE - SEATS FULL N.M.

1693

3057

3223

3026

2550

2760

3420

2330

MAX. RANGE N.M.

1824

3200

3388

3185

2910

3130

3735

2780

BALANCED FIELD LENGTH FT.

5170

5000

5000

4084

6000

5640

4800

6400

LANDING DIST. (FACTORED) FT.

4500

3500

3500

3537

4362

4050

5083

4362

R.O.C. - ALL ENGINES FT PER MIN

4315

3430

3515

-

3400

3340

5000

3700

R.O.C. - ONE ENGINE OUT FT PER MIN

510

601

671

-

493

606

846

1010

MAX. CRUISE SPEED KTAS

452

480

480

450

474

470

482

460

NORMAL CRUISE SPEED KTAS

452

431

459

-

459

459

470

448

L/RANGE CRUISE SPEED KTAS

417

410

430

433

430

430

459

414

2

3

3

2

2

2

2

2

TFE 731-4R-2

TFE 731-3-1C

TFE 731-40

HTF7500E

TFE 731-40R

TFE 731-40AR

HTF 7250G

TFE 731-3C

MEDIUM JETS VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

Airplane performance and specification numbers can vary depending on how they are measured. Please note this data should be used as a guide only, and not the basis on which buying decisions are taken.

110

AVBUYER MAGAZINE – October 2015

www.AVBUYER.com

Aircraft Index see Page 145

T

Amstat October.qxp_Layout 1 21/09/2015 15:54 Page 1

AirCompAnalysis Oct15.qxp_ACAn 22/09/2015 10:11 Page 1

FLIGHT DEPARTMENT T AIRCRAFT COMPARATIVE

Aircraft Comparative Analysis: Bombardier Learjet 45XR In this month’s Aircraft Comparative Analysis, Mike Chase provides information on two popular business jets for the purpose of valuing the Learjet 45XR. A 2012 model Learjet 45XR has a list price of $7m.

Mike Chase’s analytical and consultancy services are highly valued within the Business Aviation industry. He is founder and president of Chase & Associates, and works closely with several respected sources to compile his unique Aircraft Comparative Analysis feature. Contact Mike via mike@avbuyer.com

112

ver the following paragraphs, we’ll consider productivity parameters (payload/range, speed and cabin size) and cover current and future market values for Bombardier’s Learjet 45XR. The field in this study includes Textron/Cessna’s Citation XLS business jet.

O

Brief History

The Learjet 45 was an all-new business aircraft that was manufactured between 1997 and 2007. It featured advanced Honeywell Primus 1000 avionics systems and lower maintenance costs via longer inspection intervals. This aircraft is RVSM ready from the factory.

AVBUYER MAGAZINE – October 2015

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The Learjet 45XR is an enhanced performance version of the Learjet 45 introduced in 2003. It offers higher takeoff weights, faster cruise speeds and faster time-to-climb rates as compared to the original model.

The Honeywell TFE 731-20BR-powered Learjet 45XR is also designed to provide better hot and high performance, increased range and increased payload.

A Learjet 45XR upgrade package is available to Learjet 45 operators through engine and airframe service bulletins.

Production of the Learjet 45XR ended in 2012, and since 1997 there were 454 total Learjet 45/45XR aircraft delivered to the marketplace.  Aircraft Index see Page 145

LEAS Single October.qxp_LEAS 23/09/2015 12:58 Page 1

Contact us: USA 201-891-0881 aircraftsales@leas.com WWW.LEAS.COM

2008 Citation X s/n 750-0289

FOR SALE OR LEASE, 8 pax, On RR Corp. Care, ATG 4000 Wi-Fi, Iridium Sat Phone, Maintained Part 135, Improved TR’s, Airshow 4000+, SATCOM AFIS

2007 Global Express XRS s/n 9191

13 pax. Many upgrades-IAC Batch 3 Software, FANS 1/A+ & RNP4 Capability, SBAS/LPV Approach, ADS-B Out, TCAS 7.1, Wi-Fi, Satellite TV

1996 Gulfstream IVSP s/n 1286 $6,995,000

Engines-Corp. Care, Avionics-HAPP, -150G APU on MSP, ATG-4000 Wi-Fi, ADS-B Out, TCAS 2000 w/Chg 7.1, Dual FMS w/5.2 Software, HUD, Triple IRS, New P & I 12/2009, Partial 5/2013, Oper. Part 135

2004 Falcon 900EX EASy s/n 137

12 pax, Engines+APU-MSP Gold, New P & I 9/2014, EASy II Enhanced Avionics, Synthetic Vision, Enhanced Nav, ADS-B Out, TCAS 7.1, Wi-Fi, Text & Talk, CPDLC wiring

1995 Gulfstream IVSP s/n 1262 $4,995,000 1997 Gulfstream V s/n 504

15 pax, Eligible for Corp. Care, Satellite TV, Inmarsat SATCOM Swift Broadband, True North Phone, ADS-B Out, TCAS 7.1, 24,48 mo. CMP Codes 5/2014, Soft Goods 2012

2007 Hawker 400XP $1,995,000

8 pax, One Owner, Maintained Part 135, 24 mo. c/w 9/2014, A insp 6/2015, B insp 10/2014, C insp. 2/2012, No Damage, RAAS, Upgraded Securaplane Hawker Battery STC

13 pax, On RR Corp. Care, Avionics on HAPP, ATG-4000 Wi-Fi, Iridium Sat phone, APU Enclosure Ventilation Mod, Opererating Part 135

1994 Gulfstream IVSP s/n 1236

16 pax, Eligible for Corp. Care-475 Hrs TSOH, ATG-4000 Wi-Fi, Iridium Sat phone, Ads-B Out, SBAS/LPV AGPS Approach, -150 APU Upgrade

L E A D I N G E D G E AV I AT I O N S O L U T I O N S , L L C

W W W. L E A S . C O M

AirCompAnalysis Oct15.qxp_ACAn 24/09/2015 14:14 Page 2

FLIGHT DEPARTMENT T AIRCRAFT COMPARATIVE

Table A - Payload & Range

Worldwide Appeal

MTOW (lb)

Max Fuel (lb)

Fuel Usage (GPH)

Max Payload (lb)

Avail Payload w/Max Fuel (lb)

Max Fuel Range (nm)

Max P/L w/Avail fuel IFR Range (nm)

Learjet 45XR

21,500

6,062

204

1,875

1,563

1,937

1,824

Citation XLS

20,200

6,740

215

2,300

860

1,989

1,796

Model

Source: Data courtesy of Conklin & de Decker, Orleans, MA, USA; JETNET; ACC – Aircraft Cost Calculator; B&CA May 2015 Purchase Planning Handbook and Aug. 2015 Operations Planning Guide

Payload & Range

Chart A - Cabin Cross-Sections

The data contained in Table A (top, left) are published in the B&CA, May 2015 issue, but are also sourced from Conklin & de Decker. As we have mentioned in past articles, a potential operator should focus on payload capability as a key factor. The Learjet 45XR’s ‘Available Payload with Maximum Fuel’ at 1,563 pounds is greater than the Citation XLS at 860 pounds of payload capability.

In addition, Table A shows the fuel usage by each aircraft in this field of study. The Learjet 45XR at 204 gallons per hour (GPH) burns 5.1% less fuel (11 gallons) than the Citation XLS (215 GPH), according to data sourced from Aircraft Cost Calculator.

Source: UPCAST JETBOOK

Chart B - Range Comparison Bombardier Learjet 45XR Cessna Citation XLS

There are 196 wholly-owned Learjet 45XR aircraft currently in operation, three in shared ownership and eight in fractional ownership, making a total of 207 units worldwide. Approximately one-seventh (14.5%) of the inoperation fleet is leased, according to JETNET. By continent, North America is home to the largest fleet percentage (77%), followed by South America (11%), accounting for a combined total of 88% of the world’s Learjet 45XRs.

Cabin Cross-Sections

According to Conklin & de Decker, the Learjet 45XR cabin volume is 415 cu ft (length 19.75 ft) and the Citation XLS has slightly more cabin volume at 422 cu ft. However, the cabin length of the Citation XLS (18.5 ft) is slightly shorter than the Learjet 45XR. Note from Chart A, left (courtesy of UPCAST JETBOOK) that the Learjet 45XR offers less cabin height and width than the Citation XLS.

1642.880 Nm 1500.530 Nm

Range Comparison

Source: Aircraft Cost Calculator

114

AVBUYER MAGAZINE – October 2015

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As depicted by Chart B (left) and using Witchita, Kansas as the origin point, the Learjet 45XR shows greater range coverage than the Citation XLS, reaching most of the lower 48 Aircraft Index see Page 145

AirCompAnalysis Oct15.qxp_ACAn 22/09/2015 10:11 Page 3

states and Mexico non-stop as sourced from Aircraft Cost Calculator (ACC).

Note: For jets and turboprops, ‘Seats-Full Range’ represents the maximum IFR range of the aircraft at Long-Range Cruise with all passenger seats occupied. ACC assumes NBAA IFR fuel reserve calculation for a 200nm alternate. The lines depicted do not include winds aloft or any other weatherrelated obstacles.

Chart C - Cost Per Mile US $ per nautical mile $0.00

$4.00

$2.00

Citation XLS

Q $4.00

Q $3.08 Q

Learjet 45XR

* 1,000nm Mission costs, 800lbs Payload

Powerplant Details

As mentioned previously, the Learjet 45XR is powered by two Honeywell TFE 731-20BR engines with a thrust rating of 3,500 pounds each. The Citation XLS is powered by two Pratt & Whitney Canada PW545B engines each offering a thrust rating of 3,991 pounds.

Cost Per Mile

Using data published in the May 2015 B&CA Planning and Purchasing Handbook and the August 2015 B&CA Operations Planning Guide, we will compare our aircraft. The nationwide average Jet-A fuel cost used from the August 2015 edition was $5.25 per gallon at press time, so for the sake of comparison we’ll chart the numbers as published.

Note: Fuel price used from this source does not represent an average price for the year.

Chart C (top, right) details ‘Cost per Mile’ and compares the Learjet 45XR to its competition, factoring direct costs and with each aircraft flying a 1,000nm mission with an 800 pound (four passengers) payload. The Learjet 45XR shows the lower cost per nautical mile at $3.08, 23% less compared to the Citation XLS at $4.00.

Chart D - Variable Cost US $ per hour

$0

$1,000

Citation XLS Learjet 45XR

$

Q $1,717 Q $1,448

Table B - Comparison Tables

Model Gulfstream Learjet 45XR GV Falcon 7X Citation XLS

Long Range Speed (kts)

Cabin Volume (cu ft.)

Max Payload w/avail fuel range (nm)

Used Used Vref Price $US $mm

In-Operation

% For Sale

New & Pre-owned Sold*

459 432

1595 415

5,416 1,824

$4.8 $16.5 ‘02 Used ‘08

191 206

12.0% 10.7%

20 2

5,000 1,796

$5.9 $25.0 ‘07 Used ‘08

236 328

9.3% 6.4%

36 4

459 373

1506 422

*New & Pre-owned Full Sales Transactions in the past 12 months; Source: JETNET Data courtesy of Conklin & de Decker; JETNET; Vref; ACC

Total Variable Cost

The ‘Total Variable Cost’ illustrated in Chart D (middle, right) is defined as the Cost of Fuel Expense, Maintenance Labor Expense, Scheduled Parts Expense and Miscellaneous Trip Expense. The Total Variable Cost for the Learjet 45XR computes at $1,448, which is 15.7% less Advertising Enquiries see Page 4

than the Citation XLS at $1,717.

Aircraft Comparison Table

Table B (above) contains the pre-owned prices from Vref Pricing Guide for each aircraft (2008 model). The average

speed, cabin volume and maximum payload values are from Conklin & de Decker, while the number of aircraft in-operation and percentage ‘For Sale’ are as reported by JETNET. The Learjet 45XR has 10.7% of its fleet currently ‘For Sale’

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while the Citation XLS has a lesser percentage ‘For Sale’ at 6.4%. However, the average number of new and used transactions per month for the Learjet 45XR is less than the Citation XLS at two and four respectively.  October 2015 – AVBUYER MAGAZINE

115

AirCompAnalysis Oct15.qxp_ACAn 22/09/2015 10:11 Page 4

FLIGHT DEPARTMENT T AIRCRAFT COMPARATIVE

Table C - MACRS Depreciation Schedule MACRS SCHEDULE FOR PART 91 Year Deduction

1

2

3

4

5

6

-

-

20.00 %

32.00 %

19.20 %

11.52 %

11.52 %

5.76 %

-

-

1

2

3

4

5

6

7

8

14.29 %

24.49 %

17.49 %

12.49 %

8.93 %

8.92 %

8.93 %

4.46 %

MACRS SCHEDULE FOR PART 135 Year Deduction

Source: NBAA

Table D - Part 91 & 135 MACRS Schedule

Asking Prices vs Age, Quantity and Engines

2012 LEARJET 45XR - PRIVATE (PART 91) Full Retail Price - Million Year

$7.000 1

2

3

4

5

6

20.00 %

32.00 %

19.2 %

11.5 %

11.5 %

5.8 %

Depreciation ($M)

$1.4

2.2

1.3

0.8

0.8

0.4

Depreciation Value ($M)

$5.6

3.4

2.0

1.2

0.4

0

Cum. Depreciation ($M)

$1.4

3.6

5.0

5.8

6.6

7.0

Full Retail Price - Million

$7.000

Rate (%)

2012 LEARJET 45XR - CHARTER (PART 135) Year

1

2

3

4

5

6

7

8

14.3 %

24.5 %

17.5 %

12.5 %

8.9 %

8.9 %

8.9 %

4.5 %

Depreciation ($M)

$1.00

1.71

1.22

0.87

0.63

0.62

0.63

0.31

Depreciation Value ($M)

$5.00

4.29

3.06

2.19

1.56

0.94

0.31

0.00

Cum. Depreciation ($M)

$1.0

2.7

3.9

4.8

5.4

6.1

6.7

7.0

Rate (%)

Source: Vref

Depreciation Schedule

Aircraft that are owned and operated by businesses are often depreciable for income tax purposes under the Modified Accelerated Cost Recovery System (MACRS).

Under MACRS, taxpayers are allowed to accelerate the depreciation of assets by taking a greater percentage of the deductions during the first few years of the applicable recovery

116

AVBUYER MAGAZINE – October 2015

period (see Table C).

In certain cases, aircraft may not qualify under the MACRS system and must be depreciated under the less favorable Alternative Depreciation System (ADS) where depreciation is based on a straight-line method, meaning that equal deductions are taken during each year of the applicable recovery period. In most cases, recovery periods under ADS are

using a twelve year recovery period.

Aircraft used for qualified business purposes, such as Part 91 business use flights, are generally depreciated under MACRS over a period of five years or by using ADS with a six year recovery period. There are certain uses of the aircraft, such as nonbusiness flights, that may have an impact on the allowable depreciation deduction available in a given year.

Table D depicts an example of using the MACRS schedule for a 2012 model Learjet 45XR in private (Part 91) and charter (Part 135) operations over five and seven-year periods, assuming a used retail value of $7 million, per Vref Pricing guide.

longer than recovery periods available under MACRS. There are a variety of factors that taxpayers must consider in determining if an aircraft may be depreciated, and if so, the correct depreciation method and recovery period that should be utilized. For example, aircraft used in charter service (i.e. Part 135) are normally depreciated under MACRS over a seven year recovery period or under ADS

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Chart E, top right, sourced from the Multi-dimensional Economic Evaluators Inc. (www.meevaluators.com), shows a Value and Demand chart for the new and pre-owned Learjet 45XR including the Citation XLS/XLS+. The current preowned market for the Learjet 45XR aircraft shows a total of 24 aircraft ‘For Sale’ with five displaying an asking price, thus we have plotted those five.

We also added other preowned business jets of similar ilk, with asking prices ranging from $2-9m. The equation that we derived from these asking prices and other criteria used should enable sellers and buyers to compare, and perhaps adjust their offerings, if necessary.

Demand and Value are on opposite sides of the same Price axis. Thus, the market for used Learjet 45XRs responds to at least four features: Years, Range, Quantity and Price.

Productivity Comparisons

The points in Chart F (right) are centered on the same aircraft.

Pricing used in the vertical axis is as published in the Vref Pricing Guide. The productivity index requires further discussion in that the factors used can be somewhat arbitrary. Productivity

Aircraft Index see Page 145

AirCompAnalysis Oct15.qxp_ACAn 22/09/2015 17:40 Page 5

can be defined (and it is here) as the multiple of three factors: 1. Range with full payload and available fuel; 2. The long range cruise speed flown to achieve that range; 3. The cabin volume available for passengers and amenities.

Chart E - Value & Demand

A Study of Pre-owned Learjet 45XR Compared to the Learjet 45 and Citation XLS/ XLS+ Business Jets.

Others may choose different parameters, but serious business aircraft buyers are usually impressed with Price, Range, Speed and Cabin Size. After consideration of the Price, Range, Speed and Cabin Size, we can conclude that the Learjet 45XR displays a high level of productivity.

Popular attributes of the Learjet 45XR are range, lower hourly and variable costs plus a significantly higher payload capability compared to the other aircraft in our analysis. Operators should weigh their mission requirements precisely when picking the option that is the best for them.

Summary

Chart F - Productivity Price (Millions)

Within the preceding paragraphs we have touched upon several of the attributes that business aircraft operators value.

There are other qualities such as airport performance, terminal area performance, and time to climb that might factor in a buying decision, however.

The Learjet 45XR continues to be popular today. Those operators in the market should find the preceding comparison useful.

Our expectations are that the Learjet 45XR, which started delivering in 2003 and ended production in 2012, will continue to do very well in the pre-owned markets for the foreseeable future. T

$8.0

Citation XLS

$6.0

Learjet 45XR

$4.0 $2.0 $0.0 0.0000

0.2000

0.4000

0.6000

Index (Speed x Range x Cabin Volume / 1,000,000,000)

The best aircraft for sale search anywhere, everywhere - on pc, smartphone and tablet.

Advertising Enquiries see Page 4

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October 2015 – AVBUYER MAGAZINE

117

Aradian May.qxp 21/09/2015 15:27 Page 1

File photo

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John Hopkinson Ultras October.qxp 21/09/2015 15:58 Page 1

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Global Jet XLS October.qxp_Layout 1 23/09/2015 15:50 Page 1

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Global Jet G450 October.qxp_Layout 1 23/09/2015 15:51 Page 1

2008 Gulfstream G450

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Global Jet A319 October.qxp_Layout 1 23/09/2015 15:52 Page 1

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Aircraft in immaculate condition, like new, with unmatchable maintenance records 19 seats certified for occupancy during taxi, takeoff and landing

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Global Jet 2006 Global 5000 October.qxp_Layout 1 23/09/2015 15:56 Page 1

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Global Jet Global 5000 October.qxp_Layout 1 23/09/2015 15:51 Page 1

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Mente October.qxp 21/09/2015 17:23 Page 1

S H O W C A S E

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5386 5846.5 2679

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Entertainment System features: 20” Flight Display cabin monitors 3/2011 (BAS Bradley), DVD Player, CD Player with 10 Disc Changer and Sound System installed, Aerial View Camera System with Cockpit FWD looking Camera

1998 Falcon 900B Serial Number: Airframe TT: Landings:

170 3606.5 1909

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Mente Group, LLC 15301 North Dallas Parkway, Suite 1010 Addison, TX 75001

Advertising Enquiries see Page 4

and Airshow 400 System INTERIOR COVERINGS: All Cabin Chairs covered in Tan Leather.

Divan covered with sage Fabric.

Cabin carpet replaced 3/2011 BAS Bradley Exterior Repainted: Matterhorn white with red stripes. The paint is in excellent condition Additional Features • Precision Plus Avionics upgrade • RVSM Capable • 8.33 Spacing Compliant • FM Immunity Compliant • RNP 5 & 10 Capable • TAWS Compliant • MNPS Capable • Thrust Reversers • BRNAV Capable

www.AvBuyer.com

Inspections “B” and “2B” Insp C/W February 2010 (2,869 Hours) “C” and “2C” Insp C/W May 2010 (2,903 Hours) Wing Dry Bay Modification C/W May 2010 (2,903 Hours) Landing Gear Overhaul C/W May 2010 (2,903 Hours) Interior Refurbished November 2007 8 beige leather seats (forward and mid-cabin) 2 beige leather seats (aft cabin) 3-seat divan in beige leather (aft cabin) Custom beige carpet. Forward closet. Forward galley Fireblocked for Part 135 Operations Exterior White upper and Royal Blue lower fuselage with Gold and Burgundy accent stripes Options Airshow 400 Fwd LCD Monitor 18” and Rear Monitor 15”

Tel: +1 214 351 9595 www.mentegroup.com

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IAG Falcon 900EX October.qxp 22/09/2015 15:14 Page 1

S H O W C A S E

Asking Price $10,495,000 1997 Falcon 900EX Serial Number: Registration: Airframe TT: Landings:

18 N166FB 4386.5 1549

• Fresh 1A/1A+/2A/2A+/3A/4A+/Z/B/3B/C/3C Inspections at Duncan Aviation • Low Time - Less than 250 hours per year average utilization1 • Excellent Pedigree - No known damage • US Registered - Two owners since new • Forward Crew Lavatory • 13 Passenger Configuration • Engines on MSP

Engines Engine Plan MSP. Engine Model 3 x TFE731-60 Avionics Air Data Systems (ADS) 2 Honeywell Airborne Flight Information (AFIS) 1 Allied Signal SATAFIS (Satcom Direct) Audio System 3 Baker/Honeywell B1045 Automatic Direction Finder (ADF) 2 Collins ADF-462 Autopilot/Flight Director (AP/FD) 2 Honeywell Primus 2000 IFCS Autothrottle 1 Honeywell Avionics Suite/EFIS 1 Honeywell Primus 2000 Clocks 2 Davtron M-877 Interior Seating 13. Jump Seat 1. Galley Forward.

Lavatory Aft + Fwd Crew Lav. Dividers Mid Cabin with Sliding Curtain Exterior White top, emerald jade green bottom, separated by gold striping

Manhattan Seattle Silicon Valley 126

AVBUYER MAGAZINE – October 2015

www.AVBUYER.com

Cass Anderson or Jeff Habib Managing Partners Tel: +1 212 888 7979 Email: info@iagjets.com www.iagjets.com Aircraft Index see Page 145

Executive Airlines Avbuyer Oct15.qxp_Empyrean 23/09/2015 10:50 Page 1

S H O W C A S E

Gulfstream 200 Serial Number: Registration: Airframe TT: Landings:

145 EC-KBC 1,826.33 1,251

Engines Left Engine: P&WC306A - SN: PCE-CC-0299 Hours: 1.826.33, Cycles: 1.251 Right Engine: P&WC306A - SN: PCE-CC-0298 Hours: 1,826,33, Cycles: 1.251 APU Honeywell GTCP36-150 (IAI) Hours: 1,350 Cycles: 2.089 Avionics EFIS & EICAS Display : 5 Colllins EFD-4077 EICAS Computer: 1 Collins DCU-4010 Display Control Panel: 2 Collins RPS-4002 Reversion Switch Panel: 2 Collins RPS-4000 Data Management Unit: 1 Honeywell 400-045500-0211, Configuration Module Unit:1 Honeywell 31990-1 VHF COM Antenna:1 Sensor System S65-111-2 Autopilot System (Cat II): 2 Collins FCC-4005, Flight Control Panel: 1 Collins FCP-4004, Attitude Heading Ref. Syst: 2 Collins AHS-3000, Air Data System: 2 Collins ADC-850C (RVSM Accuracy), Air Data Reference Panel: 2 Collins ARP-4002 Color Weather Radar: 1 Collins TWR-850 (with Turbulence Detection), Weather Radar Control Panel: 2 Collins WXP4220,

Flight Management Computer: 2 Collins FMC6100 Control Display Unit: 2 Collins CDU-6100 Database Unit: 1 Collins DBU-4100 Global Positioning System: 2 Collins GPS-4000A 60 Hz Inverter KGS SS-200 Additional Equipment ICG Satcom System (Telephone & Fax), Airshow Network Passenger Flight Information System with remote control, Cabin Emergency Lighting System, Cabin Video Equipment with multi- region DVD, 17” LCD monitors (2) and remote control Cabin Stereo Equipment, Power Systems: 115 V / 60 Hz (Outlets U.S. standard) 220 V / 50 Hz (Outlets Universal type) Vestibule Acoustical Door Coffee Maker TIA 400-1907-02 Wavejet Microwave Oven TIA 400-1409-02-L Cockpit Sunvisors Jump Seat Forward & Aft Store Closet 2 Places Divan 1 Conference Table Mechanical Lift & 2 Console Tables Therapeutic Oxygen Outlet Forward Cabin Pocket Door External Baggage Compartment Aft Lavatory with door 3 Life rafts

Aircraft Management

Advertising Enquiries see Page 4

www.AvBuyer.com

Tel: +34 (0) 902 170 396 Email: ceo@executive-airlines.com www.executive-airlines.com

October 2015 – AVBUYER MAGAZINE

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JetPro Texas 1998 Bombardier Learjet 45 Oct.qxp_Heeren Cit Ultra sep 23/09/2015 16:08 Page 1

S H O W C A S E

1998 Bombardier Learjet 45 Serial Number: Registration:

10 N556JP

Airframe TT: Landings:

4,947 3,538

Airframe On CAMP 4,947 Hours Since New 3,538 Landings Engines Engines: Honeywell TFE731-20AR-1B Engines with 3,500 lbs of thrust each Enrolled on Honeywell’s MSP Gold Engine 1 s/n P-111130-C 4,947 SNEW. 3,538 CSN. 2,527SMPI Engine 2 s/n P-111131-C 4,832 SNEW. 3,445 CSN. 742 SMPI APU APU: Honeywell RE100 s/n P-180 TTSN 1,423 Enrolled On Honeywell’s MSP Gold Avionics Avionics: Enrolled On Honeywell’s HAAP 4 Tube HONEYWELL PRIMUS 1000 EFIS Universal UNS-1C FMS Garmin 165 2nd IFR GPS Dual Honeywell RCZ-851 Comm Units Dual Honeywell RNZ-851 Nav Units Honeywell PRIMUS 660 RADAR Honeywell PRIMUS 1000 Autopilot

Honeywell TCAS II w/Change 7.0 Honeywell CD-850 CLRNC DEL UNIT Artex C-406-2 ELT Universal Class A TAWS Honeywell CVR-30 CVR L3 Communications FA2100 SSFDR Honeywell RT-300 Radar Altimeter Interior The eight passenger interior is arranged in a center club with an additional 9th belted lavatory seat. Seats are finished in gray leather with new carpet, and Ultra Leather headliner. Amenities include a forward right-hand galley with dry storage and hot coffee dispenser, ice drawer with overboard drain. 110v Outlets in the cabin, galley and aft lav. There is a private aft flushing lavatory with vanity with hot and cold running water, hard partitions and additional baggage storage with the optional flip down baggage shelf. Interior refurbished 7/2015 Exterior New Paint to Customer’s specifications for a limited time

Please contact: Don and Sam Starling

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Tel: +1 (254) 848 9192 Mob: +1 (254) 716 2981 E-mail: sales@jetprotexas.com www.jetprotexas.com Aircraft Index see Page 145

JetPro Texas 2 OCT.qxp_Heeren Cit Ultra sep 23/09/2015 16:09 Page 1

S H O W C A S E

2008 Cessna Citation CJ3 Serial Number: Registration:

525B-0286 N286VP

Airframe TT: Landings:

2,312 1,915

Airframe Enrolled on Cessna’s CESCOM and PROPARTS Engines Williams Int’l FJ44-3A FADEC – 2,780 lbs. of thrust each. Enrolled on William’s TAP Elite Engine 1 s/n: 141595 2,312 SNEW 1,915 CSN Engine 2 s/n: 141594 2,312 SNEW 1,915 CSN Avionics 3 Tube Collins Proline-21 Flight Deck Dual Collins FMS-3000 – WAAS Enabled w/ Perf.

Dual Collins GPS-4000S GPS Receivers Dual Collins VHF-4000 Comms Dual Collins NAV-4500 Nav’s Dual Honeywell RNZ-850 ADF Dual Collins DME-4000 DME Dual Collins TDR-94D Mode S Transponders Collins TWR-850 Doppler Weather Radar w/ Turb.

Collins APS-3000 Autopilot Collins TCAS-4000 w/ Change 7.0 ARTEX C406-N ELT with Nav Interface SUNDSTRAND Mk. V EGPWS (Class A TAWS) w/ RAAS and Windshear CVR Collins HF-9013A HF w/SELCAL Collins ALT-4000 Radar Altimeter Dual Collins ADC-3000 DADC Dual Collins AHC-3000 AHRS Collins IFIS-5000 w/ FSU-5010 File Server Unit

Special Features Aircell ATG-2000 Gogo Wifi Aircell 3100 SATCOM w/2 Handsets Audio Inhibit Switch Ground Clearance Switch Voice Annunciator PSU Indirect Lighting AvVisor Moving Map w/ 10.4” Display 110VAC Outlets Lead Acid Battery Rosen Monorail Sunvisors Aft Baggage Smoke Detector AOA Indicator/Indexer Tail Logo Lights Maintenance Diagnostic Computer Airstair Style Entry Steps Steep Approach Capable Interior Eight passenger interior arranged in a forward side facing seat, center club, two forward facing chairs aft and a belted seat in the aft lav. Seats are finished in pleasant light gray leather with complimentary charcoal gray Kalogridis carpet, and commentary ultra-leather headliner. The woodwork is finished in a striking dark gray woodgrain, plating is satin nickel and the lower side panels are covered in matching ultra-leather. The forward right-hand galley features a pullout workspace, draining ice drawer, ample dry goods storage and MAPCO heated container. In outstanding condition.

Exterior Overall white with multiple blue stripes. In outstanding condition

Please contact: Don and Sam Starling

Advertising Enquiries see Page 4

www.AVBUYER.com

Tel: +1 (254) 848 9192 Mob: +1 (254) 716 2981 E-mail: sales@jetprotexas.com www.jetprotexas.com

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Jet Sense Aviation, 2008 Lear 60XR Sept.qxp_Empyrean 21/09/2015 15:56 Page 1

S H O W C A S E

2008 Lear 60XR • Bombardier maintained • New Paint Striping 2015 • $4,195,000

Communications: Dual Collins VHF 422C Distance Measuring Equipment: Dual Collins Navigation:DME-442 Navigation: Dual Collins VIR-432 Nav Units Transponder: Dual Collins TDR-94D Radar: Collins WXR-840 Color Weather Radar System ELT: Artex C406-2 MHz ELT w/Nav Interface

Engines P&WC305A Left Engine: Hours: 3915- ESP GOLD Cycles: 2628 Right Engine: Hours: 3915 - ESP GOLD Cycles: 2622

Features Enrolled on SMART PARTS. ICG ICS-100 Iridium SATCOM. Airshow 410. Emergency Lighting System. Enrolled in CAMP. R.V.S.M. Capable.

Fwd and Aft Monitors (L.C.D.). SONY cabin Entertainment system - DVD system

APU Sundstrand T-20G-10C3A APU. Hours - 1190

Interior Fireblocked, XR Executive Floor plan A (Eight passengers) 7 passenger seats and 1 belted lavatory seat. The cabin features four-place executive club chairs with two executive fold-out tables and a forward three-place divan. Forward galley and the standard lavatory is located aft of the main cabin. External baggage compartment

Serial Number: Registration: Airframe TT: Landings:

348 N550DG 3,915 2,676

Avionics COLLINS PROLINE 21 AVIONICS SYSTEM Traffic Alert Collision Avoidance System: TCAS-94D TCAS II with change 7 HF Radio: Honeywell KHF-950 HF w/SELCAL EGPWS: Honeywell Mark V EGPWS with Windshear Alert EFIS: Four Tube Collins AFD-3010 with 7" X 8" Displays Air Data Computer: Dual Collins ADC-850D Air Data Computers FMS: Dual Collins FMS 5000 Flight Management Systems Automatic Direction Finder: Dual Collins ADF-462 Cockpit Voice Recorder: Universal CVR-120 Cockpit Voice Recorder

Exterior Top Fuselage is Matterhorn white. Bottom fuselage is Royal blue, Silver accept stripes Maintenance Fresh A - D inspections

Jet Sense Aviation, LLC Contact: Brett Forrester 550 N. Rand Road, Lake Zurich, Illinois 60047

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Tel: +1 (847) 550 4660 Email: brett@jetsenseaviation.com www.jetsenseaviation.com

Aircraft Index see Page 145

AeroSmith Penny Hawker 125 October.qxp 22/09/2015 15:16 Page 1

S H O W C A S E

1990 Hawker 125-800A Serial Number: Registration: Airframe TT: Landings:

258158 N800AF 9947 5637

Features AVIATION PARTNERS WINGLETS DUAL UNIVERSAL FMS UNS-1 LW (WAAS) WITH LPV FMS ARE CAPABLE OF NEXTGEN UPGRADES FOR CDLP, ADS-B out AND FAN 1A DELIVERED WITH FRESH 48 MONTH ( E,F,G) INSPECTIONS, 4 & 8 YEAR X-RAY’S, 10,000 HR AND GEAR OVERHAUL- AT WESTSTAR 800XP STYLE INTERIOR 800XP AIR CYCLE MACHINE Airframe GARRETT TFE-731-5R-1H on MSP GOLD ENGINE LEFT: S/N P91406 10792 TT ENGINE RIGHT: S/N P 91474 9270 TT APU HAMILTON SUNDSTRAND T-62T-40C8D1 Avionics COMM: DUAL COLLINS VHF-422D w/22C CTL. HEADS NAV: DUAL COLLINS VIR-32 w/8.33 KHZ SPACING AP: COLLINS APS-85 AUTOPILOT RADAR: COLLINS WXP-85C WEATHER XM: XM WEATHER ANTENNA WITH BARON WiFi CONNECTION TO IPAD (FOREFLIGHT APP) AHARS: DUAL COLLINS AHC-85 IRS: HONEYWELL LASEREF ADF: COLLINS ADF-60A

TDR: DME: EFIS: ADC:

DUAL COLLINS TDR-94D W/MODE S DUAL COLLINS DME-42 COLLINS 5 TUBE/MFD DISPLAY DUAL COLLINS 82A AIR DATA SYSTEM R/ALT: COLLINS ALT-55B RADIO ALT. SYSTEM HF: COLLINS HF-9000 W/SELCAL TCAS: COLLINS TCAS 4000 VERSION 7.0 TAWS: UNIVERSAL CLASS A Additional FAIRCHILD F1000 FLIGHT DATA RECORDER COCKPIT VOICE RECORDER – 100A IRIDIUM BASED AIRCELL ST-3100 TELEPHONE SYSTEM ELT – DORNE – MARGOLIN 8.1 W/NAV RVSM CERTIFIED BAGGAGE COMPARTMENT AFT OF LAV GROUND POWER CONTACTOR BUSS TIE CONTACTOR 115 VAC 60 HZ INVERTERS AUTOMATIC POWER RESERVE (APR) LEAR-SIEGLER STARTER GENERATORS CONCORDE SEALED LEAD ACID BATTERIES EROS QUICK DONNING OXYGEN MASKS RADIO MASTER SWITCH FUEL TOTALIZER Interior COMPLETE INTERIOR INSTALLED IN 2004, INCLUDING ALL NEW SEATS, CABINETS, CABIN SHELL, HEADLINER, SIDE LEDGES, AIRDUCTS, NEW INTERIOR WIRING WITH LED READING AND UP WASH LIGHING. CONFIRGURED IN FORWARD FOUR PLACE CLUB, AFT CLUB SEAT ON LEFT SIDE AND RIGHT THREE PLACE DIVAN IN BEIGE

AeroSmith Penny II LLC 8031 Airport Blvd., Suite 224, Houston, TX 77061

Advertising Enquiries see Page 4

www.AVBUYER.com

LEATHER, FIREBLOCKED PACKAGE TO MEET FAR PART 135 REQUIREMENTS, FWD GALLEY w/MICROWAVE AND MAPCO, THREE ENFLITE MAIN CABIN TABLES, FWD AND AFT BAGGAGE. BEIGE WOOL CARPET, WOOD HIGH GLOSS CHERRY VENEER ON ALL CABINETS, GALLEY, LAV AND ENTRANCE. FLIGHT ENTERTAINMENT SYSTEM WITH DVD/CD, MOVING MAP DISPLAY, WIRELESS CABIN HEADSETS Exterior WHITE WITH MULTI BLUE STRIPES NEW 2012

Tel: +1 (713) 649-6100 Fax: +1 (713) 649-8417 Email: aspinfo@aerosmithpenny.com www.aerosmithpenny.com October 2015 – AVBUYER MAGAZINE

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CAI 2000 Pilatus PC12 October.qxp 22/09/2015 15:17 Page 1

S H O W C A S E

2000 Pilatus PC-12/45 Serial Number: Registration: Airframe TT:

348 N348PC 2,126

Engine P&W PT6A-67B (3,500 HOUR TBO) 2,126 HOURS SINCE NEW. 387.5 SHS Avionics COM/NAV: DUAL HONEYWELL KX-165 AP/FDS: HONEYWELL KFC 325 XPNDR: DUAL HONEYWELL KT-79 DME: HONEYWELL KN-63 ADF: HONEYWELL KR-87SC+ RAD-ALT: HONEYWELL KRA-405B EFIS: DUAL HONEYWELL 4-TUBE EFIS MFD: HONEYWELL KMD-850 GPS: HONEYWELL KLN-90B TCAS: SKYWATCH HP AHRS: DUAL HONEYWELL LCR 92 RADAR: HONEYWELL RDR-2000 CLR

Attitude Indicator, Pilot Relief Tube and Winglets Interior Special Edition Executive Interior Upgrade with six beige leather seats, High gloss Burl wood Cabinetry, Ivory Ultra leather Upper Sidewalls and Headliner, Plating on all Hardware, Three Executive Writing Tables in Burl wood Finish, Forward Fully Enclosed Private Airline Style Flushing Lavatory, Document Holder, Passenger and Cargo Door Upgrades, Sheepskin for crew seats with leather, covered armrests and Side Trim Matching Cabin Exterior Black Metallic with Red and Titanium accent stripes

Features/Equipment ONLY TWO OWNERS SINCE NEW, Second Pitot/Static System, Lead Acid Battery, Additional Freon Air conditioning w/Ground Pre-Cooling, Large Cargo Door, De Ice Pkg. with Pneumatic Boots, Electrical Heated Windshield, Propeller and Stall Warning Sensors, Dual Heated Rosemount A.O.A. Sensors, Polished Exhaust Stacks and Intake Lip, Supplemental Oxygen System, Fire Extinguisher, Increased Maximum Take-off Weight 4,500 kg. (9,920 lbs.), Recognition Lights, Standby

J.P. Hanley Corporate AirSearch Int'l Inc. Palm Beach, South Florida

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www.AVBUYER.com

Palm Beach Tel: Fax: Cellular: Email: Website:

(561) 433-3510 (561) 433-3842 (561) 289-3355 jp@caijets.com www.caijets.com Aircraft Index see Page 145

CAAP G280 October.qxp 22/09/2015 15:29 Page 1

S H O W C A S E

Price Reduced to $21.5 million

New Gulfstream G280 Serial Number: Registration: Airframe TT: Landings:

2052 N386RW 55 15

CAAP is pleased to offer this brand-new Gulfstream G280 to the market. This airplane has production test and delivery time only and is available for immediate sale.

G280 S/N 2052 is loaded with over $2 million of the most desirable factory options. This airplane also includes new aircraft training entitlements (two pilots and two technicians at FlightSafety).

Avionics Aircraft equipped with G280 “Intercontinental Package” EVS & HUD Laseref VI IRS Third FMS, Triple VHF NAV Dual ADF & Dual HF Dual Flight Data Recorders & CVR ADS-B Out capability, CPDLC, RVSM Micro QAR for FOQA capability XM Weather & Dual Electronic Charts Interior 10-passenger Gulfstream “Hallmark” interior configuration Forward 4-place club group Aft LH 4-place conference/dining group Aft RH 2-place divan Forward galley Swift Broadband high-speed data (pending certification) Aircell Gogo Biz high-speed internet

Corporate Aviation Analysis & Planning Inc 97 Village Lane, Suite 100, Colleyville, TX 76034, USA Advertising Enquiries see Page 4

www.AvBuyer.com

Tel: +1 817 428 9200 Fax: +1 817 428 9201

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Aerohead Oct.qxp 22/09/2015 15:38 Page 1

S H O W C A S E

2008 Cessna Citation X Serial Number: Registration: Airframe TT: Landings:

750-283 N711VP 1920 1375

Engines L1920 Hours/1375 Cycles R1920 Hours/1375 Cycles APU Honeywell 36-150cx

1185 Hours

Avionics The Citation X is equipped with an Integrated Honeywell Avionics package.

(1)Honeywell Primus FMZ 2000 with 5-tube EFIS, Auto Pilot and Flight Management Systems, (2)Honeywell Laseref IV Internal Navigation System, (2)Honeywell GN-SSU GPS Receivers, (1)Honeywell Primus 880 Weather Radar, (2)Honeywell RMU-855 Integrated Radio System, (1)Honeywell KHF 1050 (with Provisions for second) (2)Honeywell CD-820 Control Units, (2)Honeywell AZ-940 Air Data Computers, (1)Honeywell TCAS 2000 RT-951-ACSS, (1)Honeywell Mark V EGPWS with runway awareness advisory system.

Additional Equipment New Winglets installed, Extended Range Oxygen (76+49 Cubic Foot Bottles,

SELCAL - Avtech CSD-714, Airshow 4000, 8.33 KHZ FM Immunity, DL-950 Data Loader (USB), Fairchild FA-2100 Cockpit Voice Recorder (CVR), Tail Flood Lights, AirCell Axxess II Sat Phone and Narrow band data system, Pulselite 2401 System with TCAS II interfacePrecise Fllight, Defuel System.

Exterior Snow White overall with turquoise green and titanium camilion metallic sweeping stripes.

Interior The Forward four-place club and mid-cabin four place club are done in light brown Edelman leather. The carpet is medium brown with small lighter accents throughout. The aircraft cabinetry is finished in dark brown to compliment the tan headliner and dark woven wicker style lower side panels. The onboard entertainment center incorporates an XM Radio as well as two DVD players with viewing available on either the cabin monitor or any of the 8 individual seat monitors. For those who like to travel with their own audio or video media such as an MP3 player or Apple Device, there is an audio/video RCA style jack installed at the cabin VIP seat.

Aerohead Aviation Randall G. Corson Scottsdale, Arizona

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www.AVBUYER.com

Tel: +1 602-738-9440 Email: aeroheadaviation@msn.com

Aircraft Index see Page 145

Community News.qxp_Layout 1 23/09/2015 10:54 Page 1

BIZAV REVIEW T COMMUNITY NEWS

Global 7000 Progress

Following recent announcements that certification would be moved out two years later than originally scheduled, Bombardier has said that the Global 7000 and 8000 programs are making significant progress with major development milestones achieved.

A

mong those milestones, the engines have been mounted on the first Global 7000 flight test vehicle (FTV1), which includes all major structural components: rear, centre and forward fuselage sections, wing, landing gears, and vertical and horizontal tail stabilizers. In addition to the new engines, installation of the wiring harnesses and functional test procedures have commenced on FTV1.

A second flight test vehicle is in final assembly with major structural components joined such as the rear, center and forward fuselage sections, and cockpit. Two additional flight test vehicles are in various stages of production and assembly.

Other development milestones were achieved with the aircraft program’s airframe and systems testing: the Integrated Systems Test and Certification Rig (ISTCR) has been commissioned and safety of flight testing is underway; the avionics System Inte-

grated Test Stand (SITS) rig has been installed at the Toronto site, and the Global 7000 Complete Airframe Static Test (CAST) rig has been commissioned.

The above comprehensive test articles will ensure the maturity and reliability of the aircraft’s structure and systems throughout the flight test program and before entry-into-service.

Once certified, Bombardier says the Global 7000 will feature the first and only true four-zone cabin, setting the standard for a new category of large business jets and providing unmatched performance, flexibility and comfort. It will feature a wing that optimizes both short-field and high-speed, long-range performance, coupled with highly efficient engines, the largest cabin and the most advanced cockpit, according to Bombardier.

More from www.businessaircraft.bombardier.com

OEM Bites G280 Performance Boost: An avionics software upgrade has resulted in improved aircraft performance for the Gulfstream G280. The new PlaneView280 software, offered in conjunction with supplier Rockwell Collins, has resulted in slower approach speeds (up to 9 kts), shorter landing distances (2,380ft, or 270ft less) and enhanced flight management system performance (including improvements to basic time and Advertising Enquiries see Page 4

fuel predictions, optimum and maximum altitude and best rate-of-climb speed).

New performance features are also included with the upgrade, allowing for automatic calculations for long-range cruise, maximum cruise and maximum endurance cruise speeds. New G280 aircraft are equipped with the upgraded software while current G280 operators can obtain the upgrade free of charge through Gulfstream www.AVBUYER.com

service centers in Savannah, Dallas and Luton, UK. www.gulfstream.com

Falcons over Moscow: Dassault’s expanding line of large-cabin long range Falcon business jets were on view at the recent Jet Expo Moscow 2015, including the Falcon 7X, Falcon 2000LXS and a cabin mock-up of the Falcon 5X. More than 50 Falcons have October 2015 – AVBUYER MAGAZINE

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COMMUNITY NEWS T BIZAV REVIEW OEM Bites Continued

been delivered to customers in the region over the last decade, most of them long-range Falcon 7X and 900 trijets. In addition Dassault highlighted Falcon Response, its new AOG support service. Offered through Dassault Falcon Service Moscow, Falcon Response can expedite a Vnukovo-based Go Team around the clock to deal with an AOG situation. If need be, it can call on a dedicated Falcon 900 AOG support aircraft based in Paris-Le Bourget to expedite parts, tools and repair teams. www.dassaultfalcon.com HondaJet

People In Aviation

Mark Abbott

Jens Krüger

Guillaume Steuer

Craig Voelker

Mark Abbott joins Vertis Aviation Africa as Partner. He will be based at the company’s Johannesburg office where his primary focus will be to explore new aircraft options to introduce to the market and continue to grow Vertis’ presence on the continent.

Miles Birnie is welcomed by Gamit Ltd as the company’s new Continuing Airworthiness Manager.

HondaJet Outing in Brazil: The HondaJet, made its first public appearance recently in South America as part of LABACE 2015 and Honda Aircraft Company received multiple orders for the HondaJet after the first day.

Honda recently expanded sales of the light jet to South America with the appointment of Líder Aviação as the exclusive dealer to provide sales, service and support for the HondaJet in Brazil. www.hondajet.com Piaggio Fully-Owned by Mubadala: Piaggio Aerospace is now fully-owned by Abu Dhabi-based Mubadala Development Co., who bought the remaining minority 1.95-percent share from Piero Ferrari. Mubadala started with a 35-percent share in Piaggio Aero in 2006, and in May last year this increased to 98% when Tata Industries relinquished its partnership stake in the aircraft company. “This latest development indicates a clear sign of Mubadala’s commitment to our company and trust in our new technologies, programs and products,” said Piaggio Aerospace CEO Carlo Logli. www.piaggioaerospace.it Piaggio Avanti Evo

Lisa "Lee" Boulanger, 28-year company veteran at Bombardier Business Aircraft was appointed Vice President of Customer Support, based in Montreal, Quebec.

Randy Deal joined Landmark Aviation as the director of MRO sales. Deal previously served with Textron Aviation.

Randall Greene joined the Hawthorne Global Aviation Services board of directors. Greene is currently chairman of Safe Flight Instrument Corp.

Jason Johnson becomes senior director of sales for the manufacturing and MRO Business Unit at Erickson. Additionally, Scott Cook joins the company as senior director of business development for the Americas.

Andy Joran was appointed by Banyan Air Service as a sales manager for HondaJet Southeast. Joran has held roles as a regional sales director at Flexjet and sales director at Cessna Finance Corp.

Philippe Karam was recently appointed to chief procurement officer and Johannes Seeger to the head of MRO Programs at Comlux America.

Barry Kohler has accepted the position of President and CEO of Eagle Copters Ltd. He has spent the last 30 years working in the aerospace sector. Mike O’Reilly, who currently holds the position of President and CEO, will join the Board of Directors.

Dr. Jens Krüger has become head of corporate communications and political affairs at Lufthansa Technik AG in Hamburg, succeeding Bernd Habbel who recently retired.

Jeff Lee has been named by the NBAA as the 2015 recipient of the John H. Winant Award. To be presented during the association’s annual convention in November.

Matt Olafsen has joined Johnsonville Sausage’s flight department as a captain. He previously served as the presidential pilot of New Guinea.

Embraer’s Legacy 450 EASA Nod: Following on from the recent FAA Certification, the Legacy 450 has now been granted EASA Certification. “This is a great achievement that paves the way for deliveries to begin in the member states of the European Union as well as in EASA-associated countries,” said Marco Tulio Pellegrini, President & CEO of Embraer Executive Jets. “The Legacy 450 is a revolutionary business jet that reenforces our commitment to deliver true innovation to the market.” www.embraerexecutivejets.com 136

AVBUYER MAGAZINE – October 2015

Guillaume Steuer is managing all external communications activities for Airbus Helicopters.

Craig Voelker has joined Innotech Aviation, a division of the InnotechExecaire Aviation Group, as regional sales manager, Midwest-Great Lakes US. John Walker joins Stevens Aviation as US North Central regional sales manager. Walker offers more than 25 years of sales and management experience.

Samantha Wishart-Mizsei was promoted to general manager of Landmark Aviation’s FBO at London Luton Airport (EGGW). www.AVBUYER.com

Aircraft Index see Page 145

Community News.qxp_Layout 1 23/09/2015 10:57 Page 3

S SPARFELL & PARTNERS

NEWS

WWW . SPARFELL - PARTNERS . COM TRADING@SPARFELL-PARTNERS.COM

+41 22 787 0877 (GENEVA HQ)

Sparfell & Partners was launched in March 2015 in Geneva, Switzerland and was founded by Philip ° +Ă•ivviÂ?Â?iV] Â…Ă€ÂˆĂƒĂŒÂˆ>˜ >ĂŒÂ?i >˜` >ĂƒÂœÂ˜ Ă•Â?VÂœVÂŽ

In the pursuit of their philosophy of the whole being greater than the sum of its parts, Sparfell & Partners have just expanded their trading force by three.

high net worth individuals and family ÂœvwViĂƒÂ° ÂˆĂƒ ÂŽÂ˜ÂœĂœÂ?i`}i Âœv ÂŽiĂž “>ÀŽiĂŒĂƒ and products from all manufacturers ĂœÂˆÂ?Â? Li˜iwĂŒ ĂŒÂ…i ĂœÂ…ÂœÂ?i ĂŒi>“ >ĂŒ -ÂŤ>Ă€viÂ?Â? & Partners.

Pat Pat McHaffey, McHaffey, London, London, UK, UK, is a vÂœĂ€Â“iĂ€ "vwViĂ€ ˆ˜ ĂŒÂ…i ,ÂœĂž>Â? >ÛÞ] …ˆiv Ă?iVĂ•ĂŒÂˆĂ›i "vwViĂ€ Âœv Ć‚ÂˆĂ€ >Â˜ĂƒÂœÂ˜ >˜` Lord ÂœĂ€` Hanson’s >Â˜ĂƒÂœÂ˜Â˝Ăƒ personal ÂŤiĂ€ĂƒÂœÂ˜>Â? helicopter Â…iÂ?ˆVÂœÂŤĂŒiĂ€ pilot ÂŤÂˆÂ?ÂœĂŒ for vÂœĂ€ 29 ә years. Ăži>Ă€ĂƒÂ° His ÂˆĂƒ wealth Ăœi>Â?ĂŒÂ… of Âœv experience in aircraft trading will be invaluable as the company stretches its reach across the globe.

Didier Didier Goachet, Goachet, ex iĂ? Air Ć‚ÂˆĂ€ France Ă€>˜Vi crew VĂ€iĂœ & E manager “>˜>}iĂ€ for vÂœĂ€ 31 ĂŽÂŁ years Ăži>Ă€Ăƒ with ĂœÂˆĂŒÂ… African Ć‚vĂ€ÂˆV>˜ business and governmental relations at all levels will be instrumental in developing business on the Continent. `iĂ›iÂ?ÂœÂŤÂˆÂ˜} LĂ•ĂƒÂˆÂ˜iĂƒĂƒ œ˜ ĂŒÂ…i ÂœÂ˜ĂŒÂˆÂ˜iÂ˜ĂŒÂ°

Steve Steve Fuller, Fuller, Savannah, Savannah, USA, USA, a veteran of Âœv 32 ĂŽĂ“ years Ăži>Ă€Ăƒ at >ĂŒ Gulfstream Ă•Â?vĂƒĂŒĂ€i>“ Aviation Ć‚Ă›Âˆ>ĂŒÂˆÂœÂ˜ Savannah, hascultivated cultivatedcontacts contactswith with Savanna, has clients who are heads of state, ultra

Sparfell & Partners’ ambitious expansion plans will soon involve further Associates joining from South East Asia, China, South America and Turkey.

BizAv Events 2015 MEBAA Show Morocco

The first Business Aviation show of its kind in the North Africa region, closed its doors on a high after a successful two-day run last month. Over 2,033 visitors flocked to Mohammed V airport, Casablanca in order to view displays from the leading players in the Business Aviation market.

Among the visitors was Sheikh Mohammed Al Mualla, who spent time viewing the aircraft on offer and touring the site with Ali Al Naqbi, chairman of the Middle East and North Africa Business

US Corporate Aviation Summit AEA (Aircraft Electronics Association Regional) Kennedys Aviation Seminar SpeedNews Business & GA Suppliers Conference Bombardier Safety Standdown AEA (Aircraft Electronics Association Regional) CEPA EXPO Offshore Aircraft Registration Flying Aviation Expo Seoul Int’l Aerospace & Defense Exhibition AEA (Aircraft Electronics Association Regional) AEA (Aircraft Electronics Association Regional) Dubai Airshow NARA Annual Fall Meeting NBAA: Business Aviation Convention & Exhibition Advertising Enquiries see Page 4

Oct 1 Oct 1 - 2 Oct 5 Oct 6 – 7 Oct 6 – 8 Oct 12 - 13 Oct 14 – 15 Oct 15 – 16 Oct 15 – 17 Oct 20 – 25 Oct 1 - 2 Nov 2 - 3 Nov 8 – 12 Nov 16 Nov 17–19

Aviation Association (MEBAA).

Al Naqbi concluded, “We are pleased with the response and support that MEBAA Show Morocco has received from both exhibitors and visitors. The show has exceeded our expectations. I am thrilled to announce that after discussions with the Moroccan government, MEBAA Show Morocco will be a biennial show, and is next scheduled for 2017.�

More from www.mebaamorocco.aero.

Fort Lauderdale, FL, USA Toronto, Canada London, UK Los Angeles, CA, USA Wichita, KS, USA Tampa, FL, USA Prague, Czech Republic Grand Cayman, Cayman Islands Palm Springs, CA, USA Seoul, South Korea Toronto, Canada New Zealand Dubai World Central, Dubai, UAE Las Vegas, NV, USA Las Vegas, NV, USA www.AVBUYER.com

www.aeropodium.com www.aea.net www. aeropodium.com www.speednews.com www.safetystanddown.com www.aea.net www. cepaexpo.com www. aeropodium.com www.aviation-xpo.com www.seouladex.com www.aea.net www.aea.net www.dubaiairshow.aero www.naraaircraft.com www.nbaa.org October 2015 – AVBUYER MAGAZINE

137 17:32

Singapore Airshow March_Layout 1 23/04/2015 11:38 Page 1

Sean advertorial - Products & Services October.qxp_Layout 1 23/09/2015 11:55 Page 1

PRODUCTS & SERVICES Comlux Aviation

Raisbeck Engineering

Has taken delivery of the first Russian-built Sukhoi Business Jet (RRJ-95B) to be registered in Western Europe. The airliner, originally ordered by domestic carrier UTAir, has been ferried to Comlux’s facility in Indianapolis for an executive refit expected to take up to eight months. The SBJ has been placed on the Maltese register (bearing the appropriate marks 9H-SBJ) and is expected to enter service in the charter market in Kazakhstan early 2016. www.comluxaviation.com

Has begun FAA certification flight-testing on the first of two brand new Swept Blade Propeller designs for the King Air 350.

The propellers incorporate the latest swept blade technology that is also available for King Air 90 and 200 models.

The Raisbeck/Hartzell 4-bladed Aluminum Swept Blade Propellers are currently in FAA Certification flight-testing and will be completed by month-end. The 5-bladed Composite Swept Blade Propellers begin certification flight-testing on the same King Air 350 this month, and will be completed in early November of this year. www.raisbeck.com

Lufthansa Bombardier Aviation Services (LBAS) An MRO focused exclusively on Bombardier business jets. Has teamed with OHS Aviation Services to “provide combined refurbishment and maintenance product packages,” said Christoph Meyerrose, CEO of LBAS. It includes a wide variety of work for cabin interiors as well as aircraft exteriors including leather, wood, upholstery work, varnishing, sealing and specialist cleaning. For the customer, refurbishment services are integrated into a forthcoming check. At Berlin Schoenefeld airport, LBAS and OHS offer a fully comprehensive maintenance and refurbishment program, including engineering services. www.lbas.de

Advertising Enquiries see Page 4

www.AvBuyer.com

October 2015 – AVBUYER MAGAZINE

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Marketplace Challenger 604

Luxejet Price:

$6.495M US

Year:

1999

S/N:

5400

Reg:

N60055

TTAF:

4,786

Location: USA

Tel: + 704.904.3405 Email: staylor@luxejet.aero Engines: GE CF34-3B. #1 4,634 Hours 2,347 Cycles. #2 4,786 Hours 2,443 Cycles. APU: GTCP 36-150. 3,877 Hours Since New. Bombardier Smart Parts Plus. GE On-Point Engine Coverage. APU on Honeywell MSP Gold. 192 Airframe/Gear Restoration June 2015. Duncan-Lincoln.

Collins Pro Line 4 Avionics System. Collins TTR-2100 TCAS w/change 7.1. Dual Collins FMS-6000 FMS’s w/WAAS LPV. Dual Collins GPS-4000S. Floor plan configured for nine (9) passengers plus a forward jump seat.

www.Luxejet.aero

Boeing 767 2DXER

Comlux Price:

Please call

Year:

2001

S/N:

32954

Reg:

P4-CLA

TTAF:

3485

Location: Switzerland

Boeing 737 200 Advanced VIP

Comlux Price:

Please call

Year:

1979

S/N:

21957

Reg: TTAF:

7,230

Tel: +41 (0) 44 205 50 70 Email: severine.cosma@comlux.com Range of the aircraft is 6400 nm – 14 hours non-stop Complete maintenance records. Engines: Model: CF680C2B6F (General Electric). Engine 1 S/N: 706393 TSN/CSN: 3485 hrs. / 914 cycles. Engine 2 S/N: 706394 TSN/CSN: 3485 hrs. / 914 cycles. APU: Model: GTCP331200ER (PN: 3800298-1). S/N: P-2854 (TSN: 5071 hrs., 2806 cycles). Commercial AUA-RWL, RVSM, MNPS, RNP Authorization & Approach, RNAV-1/P-RNAV, RNAV5/BRNAV, RNP-10, RVR 125m, EFB, ETOPS 180min., CAT IIIA, & GPS navigation

Tel: +41 (0) 44 205 50 70 Email: severine.cosma@comlux.com Engines Type: JT8D-17 with STAGE III AVAERO hush-kit, N. 1: 7,230 hours 3,290 cycles N. 2: 7,121 hours 3,252 cycles.

30 passengers layout, Refurbishment turnkey packages available.

Enrolled in a “Low Hours Utilization Program” Always operated and maintained at the highest standards3650 nm / 8 Hours maximum range .

Available for viewing in Indianapolis, USA

Location: Switzerland

Airbus A319

Comlux Price:

Please call

Year:

2001

S/N:

1485

Reg:

VQ-BKK

TTAF:

5469

Location: Switzerland

Airbus A319

Comlux Price:

Please call

Year:

2006

S/N:

2550

Reg:

G-NMAK

TTAF:

4441:19

Location: Switzerland

140

AVBUYER MAGAZINE – October 2015

www.AVBUYER.com

Tel: +41 (0) 44 205 50 70 Email: severine.cosma@comlux.com * This ACJ319 is configured for Head of State or Corporation operations. It can accommodate up to 32 passengers in Executive /First class configuration. The cabin is certificated for public transport. * The cabin completion has been performed by Air France Industries in Paris in 2001. The aircraft has been refurbished in January 2013 to increase comfort on board by reducing seating capacity. * IFE includes Audio video (CD, DVD), Multi-channel Satcom and Airshow. The aircraft is fitted with 4 Additional Center Tanks and it can perform missions of more than 9 Hours (4500 nm).

Typical missions: Singapore to Hong Kong: 3hrs 20min Los Angeles to London : 10hrs London to Dubai : 7hrs 30 min

Tel: +41 (0) 44 205 50 70 Email: severine.cosma@comlux.com Cabin certificated for 34 pax: Ideal for Head of State or Corporations. One owner since delivery. 4500 nm of range non-stop. Available for viewings in UK. Total Landings: 1372. Engines: Model: CFM 56-5B7. Engine 1 S/N: 577345 TSN/CSN: 4441:19 hrs. / 1372 cycl. Engine 2 S/N: 577346 TSN/CSN: 4441:19 hrs. / 1372 cycl. APU: Model: APIC APS3200. APU S/N: R2236 TSN/CSN: 4893:00 hrs. / 3169 cycl. ACJ319 is configured for Head of State or Corporation operations. It can accommodate up to 34 passengers (28 sleeping positions).

Aircraft Index see Page 145

P140-144.qxp 23/09/2015 13:42 Page 2

Marketplace Bombardier Challenger 604

Tel: +43 (0) 676 720 4239 Email: busjetsale@gmail.com

Evgeny Tikhomirov Price:

Make offer

Year:

2007

S/N:

5664

Reg:

OE-IMK

TTAF:

3435:29

Certification: Sep-2006, In Service: June-2007, Power by the hour Programmes: Engines: GE Onpoint Solution

Location: Austria

Bombardier Challenger 300

Price:

Make offer

Year:

2008

S/N:

20227

Reg:

OE-HAB

TTAF:

2000

Location: Austria

Dassault Falcon 50EX

Price:

Please Call

Year:

1998

S/N:

50-264

Reg:

C-GWFK

TTAF:

5753.7

Price:

$15,800,000 USD

Year:

2009

S/N:

5786

Reg:

C-FLMK

TTAF:

1365.4

Please Call

Year:

2006

S/N:

1117

Reg:

C-GCOM

TTAF:

3232

Location: Canada (CYUL)

Tel: +1 (877) 759-7598 Email: jetsales@skyservice.com

Interior re-furbished in 2009, Interior carpet re-done in 2014, Exterior painted in 2014, 10 Passengers, VIP floor plan, 6 single seats in doubleclub arrangement, 3-place divan (4 seat belts), 3 executive tables, Crew jump-seat, Large full-service beverage and food galley, High-temp convection oven, Microwave, Food tray, Sink cover, Coffee maker, AFT lavatory with vanity (not belted), Dual DVD/CD/MP3 player, Magazine rack, Forward wardrobe curtain, Cockpit night curtain, Collins TRD-94D Mode S, Collins ADC-850E, Collins GPS-4000A Receiver, Collins NAV4000 VHF Receiver, Collins VHF-4000 VHF Transceiver, Collins HF9031A Transceiver, Collins DME-4000 Transceiver,Collins CDU-6200, Collins RDC-4002, Collins DBU-5000, Collins LDU-4000, Collins TCAS (TCAS II) TTR-4000, Collins FMC-6000, Collins FCC-4006, Reduced Vertical Separation Minima (RVSM) certified

Skyservices Jet Sales Price:

Tel: +1 (877) 759-7598 Email: jetsales@skyservice.com

Well-maintained, beautiful 1998 Falcon 50EX. 5753.7 total flight time on aircraft. Always professionally flown. This aircraft is equipped with Collins avionics, VIP seating, executive tables, full galley, entertainment center and much more. Engines: Make / Model: Honeywell TFE-731 (on MSP). APU: Model: Honeywell GTCP36-100A (on MSP).

S/N P-383; 2518.0 Hours Since New (as of June 2015).

Avionics: Avionics Package: Dual Collins EFIS-4000/Pro Line 4. Flight Director (FD): Dual Collins EFIS-4000 (4Tube). Auto-Pilot: Collins APS-4000

Skyservices Jet Sales

Location: Canada

Piaggio Avanti II

Main Data: Bombardier BD100-1A-10 (Challenger 300), AC S/N: 20227, Certification: Aug 2008, In Service: Dec 2008, Power by the hour Programmes: Airframe: JSSI (renewal pending), ENG: JSSI (renewal pending), APU: JSSI (renewal pending), Airframe/Engines/APU: All data as of 4 Jan 2014: AIRFRAME: TSN: 2000:08hrs and CSN: 896 cyc, ENGINE: Honeywell AS907 (HTF7000), LH ENG, P/N:3030001-4; S/N: P118589, TSN:2008:08hrs and CSN: 903 cycles

Skyservices Jet Sales

Location: Canada

Bombardier Challenger 605

Tel: +43 (0) 676 720 4239 Email: busjetsale@gmail.com

Evgeny Tikhomirov

Tel: +1 (877) 759-7598 Email: jetsales@skyservice.com

Dual Collins AHC-3000, Dual Collins VHF-4000, Collins 5-Tube with AFD-3010, Collins FMC-3000, Collins GPS-4000A, Collins NAV-4500, Collins ALT-4000, Aircell, L3 Landmark TAWS-8000,Collins TTR-4000 TCAS with 7.0 Software, Dual Collins TDR-94D, Collins RTA-852, Dual Collins ADC-3000 Air Data Computers,Collins FSU-5010 (Charts), Dual Collins PWR-3000, Dual Collins FGC-3003 Flight Guidance Computer, Dual Collins CSU-3100, Dual Collins IOC-3100 Input/Output Concentrators, Collins CDU-3000 Control Display Unit,VIP floor plan (7-Place +1),4 single passenger seats in club arrangement, 2-place divan, 1 single forward-facing passenger seat, Aft fully enclosed lavatory with seat-belt, Aft coat closet,Charcoal leather seats with oak wood trim throughout cabin, Dual executive tables, Pyramid with ice chest & miscellaneous storage,Sheep skin for pilot & co-pilot seats.

www.aircraftsales.com

Advertising Enquiries see Page 4

www.AVBUYER.com

October 2015 – AVBUYER MAGAZINE

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Marketplace Bombardier Learjet 36A

Leonard Hudson Drilling Price:

US $1,375,000

Year:

1977

S/N:

36A-030

Reg:

N160GC

TTAF:

15,600

Tel: +1 (806) 662 5823 Email: ronfernuik@hotmail.com

Learjet 36A, Long range capability, as configured 2,400 nautical miles. Can be upgraded to 2,600 mile range.

Recent paint and interior, RVSM. Competitively priced at US $1,375,000, may take trade on a King Air or a helicopter

Location: USA

BELL 206L4

Leonard Hudson Drilling Price:

US $1,975,000

Year:

2002

S/N:

52265

Reg:

N339MG

TTAF:

1700

Tel: +1 (806) 662 5823 Email: ronfernuik@hotmail.com

We are offfering our 2002 Bell 206 L4. Pictures do not do justice to the helicopter, and the colors are very vibrant, it is ready for immediate work. It has had both a Bell/Edwards completion and maintenance with immaculate records, of course no damage of incidents. 1700 TTSN, Two corporate owners.

Location: USA

BELL 412EMS

Leonard Hudson Drilling Price:

US $3,875,000

Year:

1981

S/N:

33017

Reg:

N554AL

TTAF:

15265

Tel: +1 (806) 662 5823 Email: ronfernuik@hotmail.com

Full EMS Medical 4 patient and 4 attendant interior.

Recent ‘no expense spared’ airframe refurbishment at Acro Helipro within the last 100 hours.

Both engines are fresh Pratt and Whitney overhauled.

Immediate delivery, Meticulous records.

Current with medical interior and 13 passenger utility interior are included, aircraft is ‘turn-key’ will provide Fresh annual /Export C of A

Location: USA

BELL 212 (Five Available)

Leonard Hudson Drilling Price:

Please Call

Year:

1991-1996

S/N:

Call for details

Reg:

Call for details

TTAF:

Call for details

Tel: +1 (806) 662 5823 Email: ronfernuik@hotmail.com

Five, Late Model, Bell 212s In 'Off Shore’.

Available for immediate use.

Asking $3.1M to $3.6M USD. Serial numbers: 35034, 35048, 35060, 35088 and 35096

Location: USA

Hawker Beechcraft 400XP

Adam Webster Price: Year: S/N:

TBD

Reg:

TBD

TTAF: Location: USA

142

AVBUYER MAGAZINE – October 2015

www.AVBUYER.com

Tel: +1 (617) 901 3245 Email: adam@jetowner.com BNA or PDK based Hawker 400XP owner seeks $1MM or 1/2 partnership in 2007 or newer ($2MM total value) aircraft.

Ideal partner is former fractional, charter or aircraft owner looking for better ROI for leisure use of aircraft. Aircraft management to be vetted, overseen and audited by The Jet Owner Group (www.jetowner.com) and managed by a national charter, card, and management firm with over 50 aircraft on certificate. Perfect partner would be primarily leisure - weekend - user of aircraft. For pro forma on how charter income can impact your joint ownership experience, please contact us for more information

Aircraft Index see Page 145

P140-144.qxp 23/09/2015 13:45 Page 4

Marketplace Bombardier Learjet 35A

International Jet Markets Price:

$850,000.00

Year:

1987

S/N:

626

Reg:

N21BK

TTAF:

10771.6

Tel: + 1-850-213-3218 Email: JETMARKETS@aol.com

12 Year/12000 hour/3000 Landing C/W May 2011* Engines enrolled on Honeywell MSP & Fully Funded, Dual Collins FIS 84 Flight Directors, Fire Blocked- Eight Passenger Mid Cabin Configuration with 3 place Aft Divan across from two aft facing seats Landings: 9562 Cycles

Location: USA

Cessna Citation Excel

Tel: +1 (312) 953-7937 E-mail: lanceodnl@hotmail.com

Lance O'Donnell Price:

$2,330,000 USD

Year:

2000

S/N:

560-5101

No Damage history, on CESCOM/Proparts, no engine program or APU, externally serviced LAV, cabin 110v outlets and remote temp control, cabin soft goods redone 18 months ago.

Reg:

N81SH

Cycles: 3783

TTAF:

4213

Full details @ www.2000citationexcel.com

Location: USA- IL

www.2000citationexcel.com

Cessna Citation II

JetCap Aviation Price:

$450,000 no VAT

Year:

1992

S/N:

550-717

Reg:

F-HBMR

TTAF:

6922

Tel: +33 (0) 6 85 84 41 51 Email: paul.mizrahi@outlook.com 1992 Cessna Citation II (C550), based in Paris Le Bourget (LFPB), Single Pilot approved, Operated under European AOC, RVSM and P-RNAV approved, MTOW 14.500 Lbs, 8 PAX, Phase V due 31/12/2015, 2xJT15D-4, LH : TSN 6851 / CSN 5424 / TSO 3247 / CSO 2219, RH : TSN 6827 / CSN 5457 / TSO 3297 / CSO 2304

Location: France

Gulfstream G280

Kevin Iocovozzi Price:

$22,000,000 USD

Year:

2015

S/N:

TBD

Reg: TTAF:

45

Location: USA

Airbus/Eurocopter AS 350B-2

Mark Slade Price:

$1,690,000 USD

Year:

2009

S/N:

4915

Reg:

VH CZN

TTAF:

510

Location: Australia

Advertising Enquiries see Page 4

www.AVBUYER.com

Tel: +1 (912) 313 5700 Email: a.novikov@fqgroup.biz Direct Sale From The Owner. Available For Viewings In USA Now. The APU, Airframe And Engine Hours Are Solely Due To Production And Delivery. Landings: 12. Engines Honeywell HTF7250G. Engines Enrolled In MSP. JAR-OPS 1 Compliant. Aircraft Equipped With G280 “Intercontinental Flight Package”. Int: 10-Passenger Gulfstream “Hallmark” Interior. Forward 4-Place Club Group. Aft RH 2-Place Divan.

Insp: On-Condition Maintenance. PRICE REDUCED

Tel: +61 418 11 33 13 Email: mslade@parklea.com Location: Australia, VIC, Melbourne, we can deliver to anywhere in the world. Additional costs will apply. 1 x Turbomeca Arriel 1D1, CASA C of A. 2009 AS350 B2, VEMD, Night VFR, leather interior, air conditioner, TAS 610, cargo swing (fixed parts), emergency flotation device (gear fixed parts), dual sliding doors, no damage history. One owner since new, corporate use with one pilot. Leather seating and carpet throughout. Black (white removable stripe). Thales H 321 EHM Gyro Horizon, Avidyne TAS 610 Traffic Avoidance System, AIM 205-1 BL Gyro Directional, Turn and Bank indicator, VHF/VOR/LOC/GS Honeywell KX 165, VHF/VOR/LOC/GS/GPS Garmin GNS 430W, linked to course deviator Honeywell GI 106, Transponder Garmin GTX 327.

Price Reduced to US$1,690,000 + GST

October 2015 – AVBUYER MAGAZINE

143

P140-144 CORRECT.qxp 24/09/2015 10:05 Page 5

Marketplace Mooney M20R Ovation 2DX

Tel: +44 (0) 1624 827706 Email: ferry-flights@iafrica.com

Paul Walker Price:

$195,000 inc VAT

Year:

2003

S/N:

29-0301

Reg:

N-278DB

TTAF:

1354

Mooney M20R s/n 29-0301, N278DB, Manufactured 2003, TT 1354.1, Hobbs Continental IO-550-G(6) s/n 685040, TT 1354.1, Hobbs Propeller McCauley 2 blade 2A34C241 s/n 002471, Overhauled Feb 2012 TSO 128.6 Hobbs, Garmin GMA 340, Audio panel Garmin GNS 530, Com/Nav/GPS coupled to King HSI Garmin GNS 430 Com/Nav/GPS, Coupled to VOR/ILS/GPS indicator Garmin GTX Transponder Mode S King KR87 ADF & Indicator King KN 64 DME King KFC 225, Autopilot EDM 700 engine monitor Oxygen, Full de-ice Speed Brake Moving Terrain

Location: United Kingdom

Beechcraft King Air F90

Tel: +1 (949) 852 1540 Email: SchaferAircraft@aol.com

Jack Schafer Price:

$900,000 USD

Year:

1985

S/N:

LA-226

Reg:

N16WG

TTAF:

4650

900,000 Reduced Price - Available Immediately Avionics: Sperry SPZ-4000 Proline II, Sperry SPZ-4000 Flight Director & Autopilot, BF Goodrich WX-500 Stormscope, Dual Collins VHF-22A Comms, Dual VIR-22A Navs, Dual Collins TDR90 Transponders, Dual Collins ADF-60B, Dual Collins RMI-30, Interior: Standard Club Seating done in Dove Gray Leather.

Gray Wool Burgandy Sidwalls Gray Wool Carpeting. Wood Laminates. Add. Features: Raisebeck Wing Lockers & Strakes.

Cleveland Wheels & Brakes, 4th Cabin Window, Strobe Lights, Prop Autofeather, Lead Acid Battery, Ground Comm Power

Location: USA- CA

Alberth Air Parts

Par Avion Ltd

+1 832 934 0055

Spare Parts

FALCONS • HAWKERS • LEARS

•BUY •SELL •TRADE

www.paravionltd.com

CESSNA LEARJET HAWKER WESTWIND FALCON GULFSTREAM

www.alberthaviation.com

SALES • ACQUISITIONS • CONSULTING

Fax: +1 832 934 0011 AvBuyer (USPS 014-911), October 2015, Vol 19, Issue No 10 is published monthly by AvBuyer Ltd, 1210 West 11th Street, Wichita, KS 67203-3517 and has a targeted circulation to decision makers within business and corporate aviation throughout the world. It is also available on Annual Subscription @ UK £40 and USA $65. POSTMASTER: Send address changes to: AvBuyer Magazine 1210 West 11th Street, Wichita, KS 67203-3517. Postage is paid at Wichita, KS and additional mailing offices © Copyright of AvBuyer Ltd. Every effort is made to ensure the accuracy of material published in AvBuyer Magazine.

However, the publishers cannot accept responsibility for claims made by manufacturers, advertisers or contributors. The views expressed are not necessarily those of the Editor or the publishers. Although all reasonable care is taken of all material, photographs, CD & DVDs submitted, the publishers cannot accept any responsibility for damage or loss. All rights reserved. No part of AvBuyer Magazine Advertising, Design or Editorial - may be reproduced, stored in a retrieval system, or transmitted in any other form, or by any other means, electronic, mechanical, photographic, recording or otherwise, without prior written permission of the publishers.

Advertiser’s Index 21st Century Jet Corporation ...............................146 Aerohead Aviation ...................................................134 AeroSmith/Penny.....................................................131 Aircraft Guaranty Corporation.................................71 AMAC ...........................................................................87 American Aircraft Sales ............................................91 AMSTAT ....................................................................111 Aradian Aviation .......................................................118 Aviation Advisors........................................................39 Avjet Corporation .........................................FC, 28-29 Avpro ......................................................................10-14 Bell Aviation ..........................................................58-59 Bombardier..................................................................35 Boutsen Aviation ........................................................57 CAAP..........................................................................133 Central Business Jets .............................................147 Charlie Bravo ..............................................................81 Conklin & de Decker...............................................139 Corporate AirSearch Int’l .......................................132 Corporate Concepts .................................................21 Dassault Falcon Jet ..........................................2-3, 61

144

AVBUYER MAGAZINE – October 2015

Dubai Airshow.............................................................75 Duncan Aviation..........................................................53 Eagle Aviation .............................................................15 Elliott Jets .............................................................40-41 Executive Airlines.....................................................127 Freestream Aircraft USA....................................23-25 Gamit ..........................................................................107 General Aviation Services........................................95 Global Jet Monaco ............................78-79, 120-124 Hagerty Jet Group .....................................................31 Hatt & Associates ......................................................27 Intellijet International.................................................6-7 Intercontinental Aircraft Group.............................126 International Aviation Markets..................................87 Jet Sense Aviation/Gantt Aviation .......................130 Jet Support Services (JSSI) ....................................69 JetBed...........................................................................93 JetBrokers..............................................................42-43 Jetcraft Corporation ....................50-51, Back Cover Jeteffect........................................................................99 JETNET.........................................................................73

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JetPro Texas ....................................................128, 129 John Hopkinson & Associates ....................103, 119 Leading Edge Aviation Solutions .........................113 Lektro..........................................................................107 Mente Group ............................................................125 Mesinger Jet Sales ..............................................16-19 NBAA Convention...................................................109 OGARAJETS........................................................32-33 Par Avion......................................................................90 Rolls-Royce..................................................................67 Singapore Airshow..................................................138 Southern Cross Aviation ........................................105 Sparfell & Partners...................................................137 Survival Products.....................................................107 Tempus Jets .................................................................47 The Jet Business ..................................................36-37 VREF Aircraft Values ..............................................139 Welsch Aviation.............................................................5 Wright Brothers Aircraft Title...................................63

Aircraft Index see Page 145

P145 AC Index OCT15.qxp 24/09/2015 13:53 Page 1

Aircraft For Sale • AIRCRAFT • HELICOPTERS AIRCRAFT

PAGE

AIRBUS A318 Elite . . . . . 79, A319 . . . . . . . . . . 79, 121, 140,

AVIAT Husky A-1C . . . . 21,

BAE Jetstream 31 . . . 103,

BOEING/MCDONNELL DOUGLAS BBJ . . . . . . . . . . . 21, 24, 50, 148, DC- 6 . . . . . . . . . 10, DC8-62 . . . . . . . . 21, 727-200 . . . . . . . 21, 737-200 . . . . . . . 21, 140, 737-300 . . . . . . . 140, 757 . . . . . . . . . . . 1, 28, 767 2DXER. . . . . 140,

BOMBARDIER Global 5000 . . . . 10, 18, 21, 51, 57, . . . . . . . . . . . . . . . 79, 90, 99, 123, 124, . . . . . . . . . . . . . . . 148, Global 6000 . . . . 19, 39, 51, 148, Global Express . 21, 29, 35, 42, 50, . . . . . . . . . . . . . . . 51, 148, Global Express XRS.. 19, 25, 35, 50, . . . . . . . . . . . . . . . 51, 113, 148,

Challenger 300 . . . . . . . . . . . 19, 21, 29, 51, 57, 78, . . . . . . . . . . . . . . . 141, 147, 148, 600 . . . . . . . . . . . 50, 95, 601-3A-ER . . . . . 91, 99, 604 . . . . . . . . . . . 12, 24, 50, 51, 53, . . . . . . . . . . . . . . . 57, 58, 78, 99, 125, . . . . . . . . . . . . . . . 140, 141, 147, 148, 605 . . . . . . . . . . . 18, 35, 50, 99, 141, 850 . . . . . . . . . . . 35, 50, 105,

Learjet 31A . . . . . . . . . . . 42, 99, 105, 35A . . . . . . . . . . . 42, 143, 36A . . . . . . . . . . . 142, 40 . . . . . . . . . . . . 42, 58, 99, 40XR . . . . . . . . . . 99, 45 . . . . . . . . . . . . 13, 25, 42, 91, 99, . . . . . . . . . . . . . . . 128, 45XR . . . . . . . . . . 21, 40, 50, 51, 99, . . . . . . . . . . . . . . . 148, 55 . . . . . . . . . . . . 43, 105, 60 . . . . . . . . . . . . 13, 53, 99, 60XR . . . . . . . . . . 35, 50, 51, 99, 105, . . . . . . . . . . . . . . . 130, 148,

CESSNA Citation II . . . . . . . . . . . . . 43, 143, V. . . . . . . . . . . . . . 58,

AIRCRAFT

PAGE

AIRCRAFT

X . . . . . . . . . . . . . 12, 40, 81, 99, 113, . . . . . . . . . . . . . . . 134, 147, XLS . . . . . . . . . . . 78, 81, 118, 120, XLS+ . . . . . . . . . . 18, 81, CJ1. . . . . . . . . . . . 15, 57, 81, CJ2. . . . . . . . . . . . . 13, 15, CJ3. . . . . . . . . . . . 15, 19, 90, 129, Bravo . . . . . . . . . 41, 42, 43, Conquest II . . . . 59, Grand Caravan . 21, Excel . . . . . . . . . . 15, 40, 91, 118, 143, Encore . . . . . . . . 15, Encore + . . . . . . 12, 41, Jet . . . . . . . . . . . . 43, Mustang . . . . . . . 53, 81, 91, 118, M2 . . . . . . . . . . . . 15, Sovereign 12, 21, 40, 50, 51, . . . . . . . . . . . . . . . 118, 147, 148, SII . . . . . . . . . . . . 59, Stallion . . . . . . . . 39, Ultra . . . . . . . . . . 41, 43, 119, 400 . . . . . . . . . . . 15, 421B . . . . . . . . . . 42, 421C . . . . . . . . . . 42, 501-1/SP . . . . . . 39,

DORNIER 328 . . . . . . . . . . . 57, 328-310 . . . . . . . 51,

EMBRAER EMB-135 LR . . . 21, EMB-145 EP . . . 21, Legacy 600 . . . . 21, 42, 51, 91, Phenom 100 . . . 99, Phenom 300 . . . 99,

FALCON JET 7X . . . . . . . . . . . . 11, 37, 57, 58, 78, . . . . . . . . . . . . . . . 95, 146, 147, 10 . . . . . . . . . . . . 42, 20F . . . . . . . . . . . 42, 50 . . . . . . . . . . . . 19, 99, 105, 146, 50EX . . . . . . . . . . 11, 18, 90, 105, . . . . . . . . . . . . . . . 141, 146, 900B . . . . . . . . . . 11, 18, 42, 95, 125, . . . . . . . . . . . . . . . 146, 900C . . . . . . . . . . 58, 146, 147, 900EX . . . . . . . . . 18, 25, 53, 90, 126, . . . . . . . . . . . . . . . 146, 900EX EASy . . . 3, 11, 51, 113, 146, . . . . . . . . . . . . . . . 147, 148 900LX . . . . . . . . . 3, 31, 146, 148, 2000 . . . . . . . . . . 11, 57, 58, 95, 2000EX EASy . . 19, 2000LX . . . . . . . . 3, 51, 81, 105, 148, 2000S . . . . . . . . . 3,

FOLLAND Gnatt . . . . . . . . . . 42,

PAGE

GULFSTREAM III . . . . . . . . . . . . . 47, IV . . . . . . . . . . . . . 10, 11, 31, 99, 113, IVSP . . . . . . . . . . 10, 31, 53, 99, 113, . . . . . . . . . . . . . . . 147, V. . . . . . . . . . . . . . 19, 36, 57, 99, 100 . . . . . . . . . . . 81, 118, 147, 150 . . . . . . . . . . . 99, 118, 200 . . . . . . . . . . . 10, 19, 39, 42, 51, . . . . . . . . . . . . . . . 118, 127, 148, 280 . . . . . . . . . . . 133, 143, 450 . . . . . . . . . . . 10, 23, 31, 36, 42, . . . . . . . . . . . . . . . 51, 78, 99, 118, 121, . . . . . . . . . . . . . . . 148, 550 . . . . . . . . . . . 10, 16, 18, 24, 29, . . . . . . . . . . . . . . . 31, 37, 39, 47, 51, 57, . . . . . . . . . . . . . . . 91, 99, 118, 148, 650 . . . . . . . . . . . 17, 18, 19, 29, 32, 36, . . . . . . . . . . . . . . . 148, 650ER. . . . . . . . . 36,

AIRCRAFT

PAGE

PC12-45 . . . . . . . 132,

PIPER Meridian . . . . . . . 13, 59,

ROCKWELL Turbo Commander 690B. . .43,

SABRELINER 65 . . . . . . . . . . . . 42,

SOCATA TBM 700B . . . . . 43,

WESTWIND Westwind I . . . . . 39,

HELICOPTERS

HAWKER BEECHCRAFT

AGUSTAWESTLAND

King Air

A109 . . . . . . . . . 21, A109 Power . . . . 13, 51, 148, AW109SP. . . . . . 57, A119 KE . . . . . . . 57, AW139 . . . . . . . . 13, 87, Koala . . . . . . . . . . 118,

A100 . . . . . . . . . . 59, 200 . . . . . . . . . . . 40, 42, 250 . . . . . . . . . . . 40, B200 . . . . . . . . . 57, 95, 118, B200 GT . . . . . . . 41, 300 . . . . . . . . . . . 41, 350 . . . . . . . . . . . 41, 118, C90 . . . . . . . . . . . 118, C90A . . . . . . . . . . 57, C90 GTX. . . . . . . 13, 118, E90 . . . . . . . . . . . 59, F90 . . . . . . . . . . . 144, F90-1 . . . . . . . . . 59,

Hawker 400XP . . . . . . . . . 113, 142, 700A . . . . . . . . . . 42, 750 . . . . . . . . . . . 118, 800A . . . . . . . . . . 19, 131, 800XP . . . . . . . . . 12, 27, 43, 50, 118, 850XP. . . . . . . . . 118, 900XP . . . . . . . . . 27, 32, 51, 105, 118, 1000 . . . . . . . . . . 27, 4000 . . . . . . . . . . 27,

BELL 206 L4. . . . . . . . . 142, 212 . . . . . . . . . . . 142, 412 EMS . . . . . . 142, 427 . . . . . . . . . . . 99,

EUROCOPTER/AIRBUS AS350 B-2 . . . . . 14, 143, AS355-F-2 . . . . . 21, AS355N . . . . . . . 57, EC 120 B . . . . . . 21, EC 130 B4 . . . . . 14, 81, EC 135 P2+ . . . . 118, EC 135 T1 CDS. 57, EC 135 T2i . . . . . 14, EC 145 . . . . . . . . 14, EC 155 B1 . . . . . 14,

IAI Astra SP . . . . . . . 103, Astra SPX. . . . . . 18, 91, 95,

MCDONNELL DOUGLAS

MOONEY

SIKORSKY

M20R Ovation2DX. . . 144,

S-76C+ . . . . . . . . 14, S-76C++ . . . . . . 14, 25, S-76D . . . . . . . . . 25,

PIAGGIO

MD900 . . . . . . . . 118,

Avanti II . . . . . . . 141,

PILATUS PC12 . . . . . . . . . . 47, PC12NG . . . . . . . 47,

The best aircraft for sale search anywhere, everywhere - on pc, smartphone and tablet.

Advertising Enquiries see Page 4

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October 2015 – AVBUYER MAGAZINE

145

21st Century October.qxp 22/09/2015 14:51 Page 1

Tri-Jets have earned a stellar reputation among owners and operators and usually command higher resale values than the competition.

With efficient space management the Falcon 900 aircraft have a larger passenger seating area than the Gulfstream IV. These Tri-Jets weigh 15 tons less and are 22 feet shorter, providing a more beneficial ramp presence.

The 900EX can speed across the Atlantic with all seats full at 0.84 IMN; and has 300 NM greater range than the Gulfstream IV-SP. Furthermore, the 900EX can fly from London to Kansas City, Buenos Aires to New Orleans and Anchorage to Seoul at 0.75 IMN with eight passengers and NBAA IFR reserves.

Revolutionary and the world's first purpose built fly-by-wire (FBW) business jet, the Falcon 7X capitalizes on Mach 2 technology.

AVAILABLE: FALCON 900B

If you are considering the sale or acquisition of your business jet, call 21st Century Jet Corporation today for details before making a decision.

DISTINCTIVE BUSINESS JET SALES & ACQUISITIONS. INCORPORATED IN 1989 TEL: 1.775.833.3223

INTERNET: WWW.TRI-JETS.COM

E-MAIL: sales@tri-jets.com

CBJ October.qxp_CBJ November06 23/09/2015 13:49 Page 1

General Offices

Mexico office

Minneapolis / St. Paul

TEL: 52.55.5211.1505

TEL: (952) 894-8559

CELL: 52.55.3901.1055

FAX: (952) 894-8569

E-MAIL: Enrique CBJets.com

EMAIL: INFO@CBJETS.COM

Since 1983……

New Paint

2013 DASSAULT FALCON 7X "LIMITED EDITION" SN 213 Only 440 Hours Since New, Single Owner with Long Standing Falcon History, All Programs and Tip to Tail Warranties thru 12/15

2002 FALCON 900C SN 194 4300 TT, Recent 2C, 12 Year and Gear Overhaul, Brand New Paint, Refurbished Interior, MSP Gold, Equipped for European Operations

GIVSP SN 1453

GIVSP SN 1487

Single Midwestern US Owner, Only 4600 Hours TT, Aft Galley, 16 PAX, External view Camera

One of the last ever to be built, Averages less than 300 Hours per year, Rolls Royce Corporate Care, Gulfstream PlaneParts, MSP Gold, etc…., Extremely Recent 12-Year Heavy Check

LIKE NEW CITATION X SN 207

2000 CHALLENGER 604 SN 5458

Over $1.8M just spent in Cockpit and refurbishment Upgrades, Rolls Royce Corporate Care, Cessna Cescom, Single Midwestern Fortune 500 Owner

4500 Hours, 2100 Landings, GE ONPOINT, -150 APU on MSP Gold, Smart Parts Plus Program, Factory Installed FWD and AFT Vacuum Toilets, Forbes 500 Owner

2003 GULFSTREAM G100 SN 150

CHALLENGER 300 SN 20264

3600 Hours TT w/ Long Range Fuel Option, Engines have been upgraded to 6000 TBO, Dual Universal 1C+, Collins Proline IV Cockpit

February 2010 In Service Date, 48-Month c/w 02/14

by Bombardier, MSP Gold Engine Program, ATG-5000 Gogo Biz w/ WIFI, Premium Interior Package, Single Midwestern US Owner

www.cbjets.com

ALSO AVAILABLE: Citation X SN66, Citation Sovereign SN156 and Falcon 900EXy SN238 (Lease Only)

Making the complex simple for over 50 years.

Q4 BOMBARDIER GLOBAL 6000 DELIVERY

File Photo

A passionate team of aviation experts, our strategic approach and action-oriented thinking have made us the global leader for aircraft sales and ownership services.

With our worldwide network and inventory, industry connections and regional presence, we are the difference between getting an aircraft… and getting your aircraft.

• I ncreased Maximum Take-Off Weight to 99,500 lbs.

•O perations at Airports with Maximum Weight Restrictions •E ASA Certification Capable

2010 DASSAULT FALCON 900LX S/N 244 •E asy II Baseline Upgrade with ADS-B Out and LPV •E U OPS Certified •2 ,113 Hours; 763 Landings •E ngines and APU Enrolled

2012 BOMBARDIER GLOBAL 5000 S/N 9468

2013 GULFSTREAM G650 S/N 6004 •1 6 December 2013 Entry into Service • Universal Forward Galley with Crew Rest Compartment • Rolls-Royce CorporateCare on Engines

•T TAF 1,338 Hours; 327 Cycles • E nrolled on Smart Parts Plus; RollsRoyce CorporateCare • T hirteen(13) Passenger; Limited Edition Cabin

2003 BOMBARDIER GLOBAL EXPRESS S/N 9069

ALSO AVAI L ABLE

•A irframe Enrolled on Smart Parts • Engines Enrolled on RollsRoyce CorporateCare • Swift Broadband WiFi • Office-in-the-Sky Configurations

2002 BOEING BUSINESS JET S/N 30330 •L ow Time Aircraft • E ngines Enrolled on JSSI • E xtensive Avionics Upgrades with FANS 1/A, TCAS 7.1 and ADS-B Out • Recent Extensive Interior Refurbishments and Upgrades

I N FO @ JETC RAF T. CO M

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2010 AGUSTA A109 POWER 2007 CHALLENGER 300 2003 CHALLENGER 604 2014 GLOBAL 5000 2012 GLOBAL 6000 2002 GLOBAL EXPRESS 2010 GLOBAL XRS 2005 LEARJET 45XR 2008 LEARJET 60XR 2008 CITATION SOVEREIGN 2009 FALCON 2000LX 2006 FALCON 900EX EASy 2008 GULFSTREAM G200 2006 GULFSTREAM G450 2010 GULFSTREAM G550

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